HELOC - Interest deduction

[Amar Amar]

Hello,

I bought an investment property with cash from the HELOC on my primary residence. Can I deduct this interest payment as expense on my investment property to offset the rental income?

Thank you for the responses/help. 

[Matt Devincenzo]

Yes, lookup interest tracing. Essentially you deduct (or don't deduct) interest on a loan based on what it was used for not necessarily where it came from. E.g. your HELOC is on your primary, but the interest isn't deductible against your primary residential expense, it is deductible against the investment property.