rbynaker
Level 14
03-04-2024
06:15 PM
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What were the HELOC funds used for? If not to "buy, build, or improve" the home then that interest is not deductible at the federal level post TCJA. But then you do get to deduct interest on $100K for CA. If the funds were used to improve the home then it's probably fully deductible for both fed and CA.