Patriot Software Advisor

Downpayment on new home

by Ken
(Indiana)

Can a minister who is currently renting while in between having sold their home and purchasing a new one use the down payment made in the purchase of their new home as housing expense even though they have yet to move into their new home while it is undergoing some extensive remodeling.

I know expenses on a second or vacation home would not count but is this the same thing?

Not quite the same scenario but what if the minister had not yet sold his first home and made a down payment on new home with the intentions of moving into the new home but not having yet sold the one currently living in?

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