2 min read
0
Home Renovations Which Are Value Your Time And Money
You can only deduct home mortgage interest to the extent that the loan proceeds from your house mortgage are used to purchase, construct, or substantially improve the house securing the loan. The only exception to this limit is for loans taken out on or before October 13, 1987; the loan proceeds for these loans are treated as having been used to purchase, construct, or substantially improve the house. This part of the publication provides you basic information about home mortgage interest, together with info on interest paid at settlement, points, and Form 1098. An evaluation for a local profit may…