juggy_jagadish
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I don’t think the S-Corp can take the deduction because the HELOC is not in the name of the S-Corp. it is in my personal name.
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Sorry, I’m a little confused. If the S-Corp already claims the interest, there would be no need to claim it on the personal returns right?What am I missing?
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The S-Corp is for a business activity. Investment interest expense deduction is limited to interest income, although it can be carried forward. Would it not be ...
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Thank you. The HELOC is used solely for the S-Corp. On which form or window in TT Deluxe (desktop version) do I enter the interest expense?
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Right, I understand the interest cannot be deducted as mortgage interest but I am told that it can be deducted as an expense on schedule E to offset pass throug...
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- Cheered Re: Interest on HELOC used solely for S-Corp for RobertB4444. March 28, 2025 9:34 AM
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- Posted Re: Interest on HELOC used solely for S-Corp on Deductions & credits. March 27, 2025 2:03 PM
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- Posted Re: Interest on HELOC used solely for S-Corp on Deductions & credits. March 24, 2025 5:36 PM
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- Posted Re: Interest on HELOC used solely for S-Corp on Business & farm. March 22, 2025 2:09 PM
- Posted Interest on HELOC used solely for S-Corp on Deductions & credits. March 22, 2025 2:06 PM
- Posted Interest on HELOC used solely for S-Corp on Business & farm. March 22, 2025 1:55 PM
- Posted Thanks Carl. I'm using the desktop version. I've never se... on After you file. May 31, 2019 10:03 PM
- Posted I see some Turbo Tax Document files with a "~" before the file name. What are these files? on After you file. May 31, 2019 10:03 PM