I paid interest on a HELOC draw and then used the draw money to trade stocks. Is interest tax deductible?

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I paid interest on a HELOC draw and then used the draw money to trade stocks. Is interest tax deductible?

No, the interest is not deductible.

The HELOC is secured by your residence so any draws from the HELOC have to be used to make improvements to the residence so that the loan interest is deductible.

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Intuit Approved!

I paid interest on a HELOC draw and then used the draw money to trade stocks. Is interest tax deductible?

No, the interest is not deductible.

The HELOC is secured by your residence so any draws from the HELOC have to be used to make improvements to the residence so that the loan interest is deductible.

I paid interest on a HELOC draw and then used the draw money to trade stocks. Is interest tax deductible?

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