topic HELOC interest in Deductions & credits

HELOC interest

pjpurvis5 — Sat, 03 Apr 2021 15:39:05 GMT

I had a HELOC on a property that was in a trust that I was the executor, is that interest deductible?

NCperson — Sat, 03 Apr 2021 15:56:45 GMT

depends what the money was used for.

pjpurvis5 — Sat, 03 Apr 2021 16:02:04 GMT

Medical bills and my daughter tuition the previous year

NCperson — Sat, 03 Apr 2021 16:27:22 GMT

not deductible because it was not used to substantially improve the residence.