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The portion of the interest for amount of the debt used to purchase the windows for the home is tax deductible. The portion used to buy a new car is not. For example, if 25% of the loan proceeds were used for windows, and the rest used to buy a car, then 25% of the interest is tax deductible.
The portion of the interest for amount of the debt used to purchase the windows for the home is tax deductible. The portion used to buy a new car is not. For example, if 25% of the loan proceeds were used for windows, and the rest used to buy a car, then 25% of the interest is tax deductible.
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