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  • Re: Can I deduct interest on a HELOC secured by my main home, and where 100% borrowed funds were used for restoring my second home, which is now full time rented (20% of year 2020)?
Carl
Level 15 Carl
Level 15
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Investors & landlords

Yes, you can deduct the interest on SCH E. Tracing rules apply.

See IRS Publication 535 Chapter 4 here for details and requirements.

‎March 28, 2021 5:48 PM
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