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Best answer by Ashby

Under the new tax reform laws, reverse mortgage interest is not deductible. A reverse mortgage is home equity debt. The new laws only provides for deducting home equity interest if the money is used to buy, build, or improve a home.

1 reply

AshbyAnswer
June 1, 2019

Under the new tax reform laws, reverse mortgage interest is not deductible. A reverse mortgage is home equity debt. The new laws only provides for deducting home equity interest if the money is used to buy, build, or improve a home.

March 13, 2020

That wasn't his question.  A 1098 for a reverse mortgage would potentially show an insurance fee that is deductible.