Home Equity Loan to purchase Mobile Home - Claim Interest from HELOC
In 2023 I took out a HELOC to purchase a mobile home. This is a second home that I don't live in, but purchased for my sister. May I claim the $10,000 paid in interest in 2024 on my income tax return.
Thank you - Pamela
01798
1 Best answer
KrisD15
Expert Alumni
Feb 23, 2025 6:08:44 PM
No, the loan must be a lien on the property.
If you financed the mobile home, yes. If you took a HELOC on a different house and bought the mobile home, no.