90day: The 90-Day Window for Cash Buyers: How it Works & Why it Matters - 08/06/18 07:12 AM
   
Congratulations on paying cash for your home!  I just wanted to make you aware that the IRS gives you a 90-day window to put a mortgage on your property and gain the tax benefits associated with the coveted “acquisition indebtedness” status.

What is “Acquisition Indebtedness”
and Why Does it Matter to Me? Any mortgage that is used to buy, build, or improve a primary or vacation home qualifies for “acquisition indebtedness” status. If you itemize your tax deductions, you can deduct the interest on up to $750,000 of acquisition indebtedness.

Is There a Deadline to Qualify for the Tax Benefit? … (2 comments)