You can deduct them as lease provided that they’re a business expense or if they are for rental property. If you make annual or periodic rental payments on a redeemable ground lease, you can deduct the payments as mortgage interest. The floor lease is a redeemable floor lease provided that all the following are true. Interest paid on home mortgage proceeds is just deductible to the extent the loan proceeds were used to buy, construct, or considerably improve your house. The table above details some of the most popular home-improvement projects and their median price in 2020, based on the…
