https://ttlc.intuit.com/community/home-loans/discussion/partnership-llc/01/2663778#M1589 <P>Borrowed on a HELOC to finance a partnership business. All the funds were used for the business.&nbsp; Is the interest expense deductible in full or must it be offset by the business income or whatever?</P><P>Additionally, if it is limited, will that portion be carried forwarded to subsequent years?</P> Mon, 09 Mar 2026 11:33:03 GMT hero2 2026-03-09T11:33:03Z https://ttlc.intuit.com/community/home-loans/discussion/partnership-llc/01/2663778#M1589 <P>Borrowed on a HELOC to finance a partnership business. All the funds were used for the business.&nbsp; Is the interest expense deductible in full or must it be offset by the business income or whatever?</P><P>Additionally, if it is limited, will that portion be carried forwarded to subsequent years?</P> Mon, 09 Mar 2026 11:33:03 GMT https://ttlc.intuit.com/community/home-loans/discussion/partnership-llc/01/2663778#M1589 hero2 2026-03-09T11:33:03Z https://ttlc.intuit.com/community/home-loans/discussion/re-partnership-llc/01/2664951#M1592 <P><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">If the money from the HELOC was not used to make improvements to your home, you cannot deduct the interest.</SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">See </SPAN><A href="https://ttlc.intuit.com/community/credits-and-deductions/help/can-i-deduct-interest-on-a-home-equity-loan-or-a-heloc/00/27090" target="_blank"><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">HELOC</SPAN></A><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;"> for more information.</SPAN></P> Fri, 08 Apr 2022 14:30:59 GMT https://ttlc.intuit.com/community/home-loans/discussion/re-partnership-llc/01/2664951#M1592 AliciaP1 2022-04-08T14:30:59Z