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Updated about 7 years ago on . Most recent reply presented by

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Doron E.
  • Detroit, MI
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HELOC & New Tax Code

Doron E.
  • Detroit, MI
Posted

A few years ago I took out a HELOC on my primary residence at the time. I used the funds to purchase a multi-unit property. I've been able to write off the interest from the HELOC with no issue until the new tax code last year. Does anyone know if I can still write off the interest payments from the HELOC on my schedule E as "Other Interest" since I used the funds to purchase the property?

Note: Not sure if it matters, but the property with the HELOC is no longer my primary residence.

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