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Deductions & credits
Thank you. So in this case I have a first mortgage to build the house, 2nd mortgage came when I finished the basement and built a detached garage. so all of which would be considered acquisition debt. Rolling those 2 mortgages into a single home equity line of credit if I paid nothing else off would still allow me to be able to deduct the interest on the heloc loan.
‎June 4, 2019
12:08 PM