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Retirement tax questions
You will enter the amount that was actually used towards the home ($100k minus 10K cash for other debts minus HELOC amount that was used for other things). Since you used part of this loan to pay for things other than the home, you cannot deduct the interest from that amount of the loan.
Please see Can I deduct my mortgage interest? for additional information.
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March 19, 2023
9:43 AM