- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
HELOC Loan Tax Question
Posted on 7/21/16 at 2:08 pm
Posted on 7/21/16 at 2:08 pm
This post was edited on 6/20/22 at 12:27 pm
Posted on 7/21/16 at 2:30 pm to CRope28
Depends on what you are using it for?
Posted on 7/21/16 at 5:51 pm to MasCervezas
(no message)
This post was edited on 6/20/22 at 1:43 pm
Posted on 7/21/16 at 6:04 pm to CRope28
Yeah, doesn't matter what the purpose of it is.
Posted on 7/21/16 at 7:05 pm to MasCervezas
If you pay AMT, you can only deduct the HELOC interest if the funds are used to purchase or improve a primary or secondary residence.
Posted on 7/21/16 at 7:33 pm to CRope28
quote:
To get my heloc loan, I wasn't asked for what I was doing with the money.
So I take it this means I can deduct the interest?
You could use a heloc to buy a car, a HELOC is simply a loan using your house as collateral. If you are talking about using it for an addition or repair on your house then yes it is deductible.
Popular
Back to top
![logo](https://images.tigerdroppings.com/images/layout/TDIcon.jpg)