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schpprt2
New Member

Where can I enter interest deduction on a securities-based loan, used for primary residence remodel

Bank does not provide a 1098
1 Reply
Fern
New Member

Where can I enter interest deduction on a securities-based loan, used for primary residence remodel

The only interest that can be deducted on your federal tax return is for loans that are secured by your primary residence. If the loan was secured by securities, no interest deduction is allowed even if the proceeds were used for home improvement.

The loan must be secured by real estate.

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