Home mortgage question

[JenMO]

Client is adding on to home. He has a mortgage on the home, but also borrowed money on some land to spend on the home. Is this qualified home mortgage? What line on the sch a does it go? Does it matter what is collateral if interest tracing goes to the home? At the end of the year, he sold the land and paid off the loan, so it is a one time deal.

[Davc]

Client is adding on to home. He has a mortgage on the home, but also borrowed money on some land to spend on the home. Is this qualified home mortgage? What line on the sch a does it go? Does it matter what is collateral if interest tracing goes to the home? At the end of the year, he sold the land and paid off the loan, so it is a one time deal.

No.
It doesn't go anywhere, non-deductible personal interest.
Yes, it matters. Qualified home mortgage interest must be secured by the home.