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NYCMIKE1234
Returning Member

Heloc and business interest

Could  a heloc loan be considered  a deductible interest expense if it it used to support a failing s corp of the shareholder   

 

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‎March 10, 2025 1:22 AM
last updated ‎March 10, 2025 1:22 AM
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MinhT1
Expert Alumni
Expert Alumni

Heloc and business interest

No.

 

The Tax Cuts and Jobs Act of 2017 has prohibited the deduction of the interest of a loan secured by your home to the extent that the loan proceeds weren't used to buy, build or substantially improve your home.

 

Please read this IRS publication, page 1. 

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‎March 10, 2025 4:22 AM
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