Borrowed against a regular investment account to purchase a home. Loan repayment with interest is on a regular monthly basis, is the interest deductible?
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Borrowed against a regular investment account to purchase a home. Loan repayment with interest is on a regular monthly basis, is the interest deductible?

 
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Borrowed against a regular investment account to purchase a home. Loan repayment with interest is on a regular monthly basis, is the interest deductible?

For a mortgage loan to be deductible it has to have the home pledged as security for the loan.

If the investment does not have a lien in the home then it is not deductible mortgage interest.

I took a loan from a 401K to but a home and due to the 401K loan not being secured by the home it was not deductible.

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