I purchased a home using securities backed line of credit. Is the interest deductible?

[alessijax]

I purchased a home using my line of credit which is backed by securities that I hold, not the home itself.  Is the interest on the line of credit deductible?>

[TomD8]

No.  For mortgage interest to be deductible, the mortgage loan must be a secured debt on a qualified home in which you have an ownership interest.

Interest on a loan not secured by a qualified home is not deductible.

[bgitarts]

> Interest on a loan not secured by a qualified home is not deductible.

This blanket statement seems incorrect. Margin interest or interest against investments can be deducted against investment gains. Why can't SBLOC interest expenses be used to offset investment gains?