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sskk
Level 1
January 4, 2025
Solved

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

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    DoninGA
    DoninGAAnswer
    Level 15
    January 4, 2025

    Expert Reviewed

    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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    2 replies

    DoninGA
    Level 15
    DoninGALevel 15Answer
    Level 15
    January 4, 2025

    Expert Reviewed

    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.

    Level 15
    Bsch4477Level 15
    Level 15
    January 4, 2025

    Deleted. 

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