ledtx
New Member

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.