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L
Lemur22
March 16, 2021
Question

cash out refinance with Home improvement over 2020 & 2021

  • March 16, 2021
  • 1 reply
  • 0 views

In 2020 refinanced with 20K cash out.  We used much of the money for home improvements, but some invoices are dated and paid 2021 (January).  Can we claim on 2020 taxes if some invoices have 2021 dates?  

    1 reply

    D
    DavidD66
    March 16, 2021

    Yes, you can deduct the full amount of your mortgage interest.  The improvements don't have to be paid for in the same calendar year.

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