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Level 2
April 3, 2021
Question

HELOC interest

  • April 3, 2021
  • 3 replies
  • 11 views

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

3 replies

Level 15
April 3, 2021

depends what the money was used for.  

pjpurvis5Author
Level 2
April 3, 2021

Medical bills and my daughter tuition the previous year

Level 15
April 3, 2021

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