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843xsc
New Member

Can I use the interest paid in 2018 on my home equity loan on my 2018 tax return if I purchased a car with that loan ?

But the loan is a home equity loan that I have with a bank, except for me, nobody knows what I'm using the money for. There is no reference or record on the loan as to what I'm using the money for.
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MichaelL1
Level 15

Can I use the interest paid in 2018 on my home equity loan on my 2018 tax return if I purchased a car with that loan ?

The loan or line of credit must be used to buy, build or substantially improve your home. This is a new requirement for tax years 2018 through 2025.


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1 Reply
MichaelL1
Level 15

Can I use the interest paid in 2018 on my home equity loan on my 2018 tax return if I purchased a car with that loan ?

The loan or line of credit must be used to buy, build or substantially improve your home. This is a new requirement for tax years 2018 through 2025.


View solution in original post

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