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Craig Steltz
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HELOC - LLC question

Craig Steltz
Posted Aug 3 2008, 10:46

All,

If I take out a HELOC under an LLC. Meaning the LLC would own the HELOC. How would one deduct interest on their taxes? this wouuld be a single member LLC. Can I just use the EIN on my own personal tax return and decduct this? Or does the HELOC have to be owned by an individual in order to get the tax deduction?

Thanks

OB

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