Skip to main content
April 15, 2024
Solved

1098 for a Construction Loan

  • April 15, 2024
  • 1 reply
  • 0 views

I have a 1098 for a construction loan.  What kind of property do I claim this as? I currently have a primary home while this house is under construction that I will claim. Based on further information given in TurboTax, secondary home and other don't appear to apply either. 

Best answer by DavidD66

Just call it a second home.  The deduction for interest on a construction loan is an exception.  It doesn't a have it's own category in TurboTax.  

1 reply

DavidD66Answer
April 15, 2024

Just call it a second home.  The deduction for interest on a construction loan is an exception.  It doesn't a have it's own category in TurboTax.  

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"