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qofmiwok
Level 3

Home Mortgage Deduction on new construction

The tax law states you have 90 days after the completion of a new home to get a mortgage and consider it home acquisition debt.  Is there a definition of what constitutes "completion"?

 

 
1 Reply
tagteam
Level 15

Home Mortgage Deduction on new construction

Facts and circumstances.

 

See https://www.sjsu.edu/people/annette.nellen/website/225K%20Reading/N88-74.pdf

 

You might want to play it safe and use the first date the home is able to be occupied (or when you actually occupy the home).

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