Home office mortgage interest deduction

Home office mortgage interest deduction - HELOC, too?

I know that I can deduct mortgage interest on my schedule C, but what about the interest paid on our home equity loan? Can I put that in as well?

Thank you!

Susan

posted

Yes, add the mortgage lender for the HELOC as another source of mortgage interest for your home office. The amount will be allocated by the square footage and business use, with the balance going to Schedule A. You can enter up to three lenders for your home office.

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