Can I deduct mortgage interest on a home that was destroyed?
Updated: 1/21/2013
Article ID: IAS10002
A home that is destroyed in a fire, storm, tornado, earthquake or other casualty can be treated as a qualified home if you rebuild and move into it or sell the land on which it was located within a reasonable period of time after it was destroyed. In either of these cases you can continue to claim mortgage interest if you itemize deductions. TurboTax will guide you through all of the deduction areas that might benefit you.