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Investors & landlords
Thanks for your reply, but that's not quite what I was asking. Let me see if I can be clearer: Can we only deduct the amount from our HELOC that was spent in TY 2022?
For example, in 2021, we installed a new lawn and new irrigation system, which we did not deduct on last year's taxes, as well as all new Andersen windows on the first floor of our house, which we finished paying off in 2022.
As a result, we are also still paying off our HELOC balance for these home improvement expenditures, so I don't know if this is also what makes these deductions relevant now.
‎April 12, 2023
7:53 PM