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We took out a HELOC at the start of 2020 to do improvements. When interest rates started rising, we did a refi on home, paid off the HELOC, can we deduct refi interest?
The HELOC was used to improve home, it had a variable interest rate, in 2022, we thought it was better to refi mortgage, and pay off the HELOC. Technically the refi was not taken out directly to improve home, but payoff the loan that was. Can we deduct the interest on the refi?
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‎February 19, 2024
10:34 AM