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    Can the interest on an equity loan on main home be used as an expense on a rental they purchased with the equity loan?

    Buddy100
    Level 2
    ‎12-06-2019 11:59 PM
     
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    IRonMaN
    Level 15
    ‎12-06-2019 11:59 PM

    If the money can be traced there, yes.


    Slava Ukraini!

    View solution in original post

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    3 Comments 3
    IRonMaN
    Level 15
    ‎12-06-2019 11:59 PM

    If the money can be traced there, yes.


    Slava Ukraini!
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    Marc-TaxMan
    Level 8
    ‎12-06-2019 11:59 PM
    within the total limit: $750,000 since Trump; $1.1M before
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    sjrcpa
    Level 15
    ‎12-06-2019 11:59 PM
    The $750K is for personal residence, not rental.

    The more I know the more I don’t know.
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