I have a Home Equity Line of Credit secured by my primary home / mortgage in MD. I used $6000 of it to pay for repairs and improvements on a rental property I own in OH. The rental property is rented to a tenant. Am I allowed to deduct the interest on the money I borrowed?
You'll need to sign in or create an account to connect with an expert.
No, you can only deduct the interest that was used to buy, build or substantially improve the home the mortgage is secured by.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ead307d72a5f
New Member
ghhou1
New Member
taxquestion222
Returning Member
ja19584
New Member
tdasha10
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.