blackbox
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Hi! Yeah, I agree it is like a HELOC but HELOC interest is not deductible now unless it is used to improve the collateral house I think?
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Thanks for the reply. I have been studying IRS 936 carefully. I started to believe in my case the mortgage interest is not deductible. The IRS publication says:...
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Thanks so much for your reply! Great insights!Now to make the situation even more interesting, what will happen in the following two situations:1) I rent out my...
Activity Feed for blackbox
- Posted Re: Interest deduction when using a new mortgage to pay off another one on Deductions & credits. February 24, 2021 6:05 PM
- Posted Re: Interest deduction when using a new mortgage to pay off another one on Deductions & credits. February 24, 2021 3:55 PM
- Posted Re: Interest deduction when using a new mortgage to pay off another one on Deductions & credits. February 24, 2021 8:31 AM
- Cheered Re: Interest deduction when using a new mortgage to pay off another one for DMarkM1. February 24, 2021 8:31 AM
- Posted Interest deduction when using a new mortgage to pay off another one on Deductions & credits. February 23, 2021 5:17 PM