If you have a Schedule C business that buys and renovates homes, and then sells then for profit, yes you can deduct the interest from a business loan.
If the HELOC loan was used totally for the business then the interest is completely deductible. If the loan was only used partially for business then you must split off the personal part and only deduct the business interest.
This is a distinct question about deductibility on a Schedule C, not about deductibility on a Schedule A.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
