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phillyfan11
Level 1

Can I deduct interest on a home equity line of credit if I invest money in stocks

Can I deduct interest on a home equity line of credit if I invest money in stocks specially dividend paying ones and have some  capital gain and loss at end of year

3 Replies
Critter
Level 15

Can I deduct interest on a home equity line of credit if I invest money in stocks

No ... HELOCs are not deductible if you did not use the proceeds to buy, build or improve your personal residence.  

phillyfan11
Level 1

Can I deduct interest on a home equity line of credit if I invest money in stocks

Thanks. How about buying an investment property?

Hal_Al
Level 15

Can I deduct interest on a home equity line of credit if I invest money in stocks

No, it must be yur first or 2nd home (e.g. vacation property).  Investment property does not qualify.

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