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Updated about 8 years ago on . Most recent reply presented by

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Lesa Palmer
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Question about HELOC interest tax deduction

Lesa Palmer
Posted

Last August we took out a HELOC on what was our main residence, to use as a down payment on a new house, which is now our main residence. We turned the first house into a rental. Under the new tax laws can the interest paid on the HELOC be used to reduce the tax owed on the rental property income?

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