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HELOC for College Tuition
I got a HELOC to pay for daughter's college tuition (graduate school) after the 529 ran out. I know the IRS changed the tax laws to no longer deduct HELOC interest as mortgage interest if not used for improvements to your home, but can I take the deduction if I exclusively used it for qualifying education expenses like tuition, room & board? I do not qualify for the two education credits - just over the income level.
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‎April 4, 2020
12:30 PM