Allocation of loan proceeds


H

Hank Youngerman

Assume I take a home equity loan and then turn around and use the full amount as a down payment on a rental property. Can I treat the loan and the interest as fully associated with the rental property rather than as home mortgage interest?
 
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L

lotax

On Friday, June 22, 2012 3:24:15 PM UTC-4, Hank Youngerman wrote:

Assume I take a home equity loan and then turn around and use the full amount as a down payment on a rental property. Can I treat the loan and the interest as fully associated with the rental property rather than as home mortgage interest?


Yes.
 

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