Timeline for When can you make home improvements and have home mortgage interest deductible
Current License: CC BY-SA 4.0
3 events
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| Jul 20, 2023 at 2:28 | comment | added | Ark-kun | It also does not quite mesh with the language around the refinancing which is forward-sounding. "Any additional debt not used to buy, build, or substantially improve a qualified". "Debt used to improve" seems to mean that the debt acquisition precedes the improvement. Otherwise it would have been "new debt used to repay for already done improvements". Maybe there is still difference between buying and refinancing. | |
| Jul 20, 2023 at 2:25 | comment | added | Ark-kun | I see. Interesting. It's interesting how "backwards looking" this is. I'd have expected that at least the improvements made in the same tax year as the refinance are treated as home home improvements. It's especially weird given that it's impossible to make any improvements until you buy the house which happens after the mortgage is taken. | |
| Jul 19, 2023 at 12:13 | history | answered | mhoran_psprep | CC BY-SA 4.0 |