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Tax, SDIRAs & Cost Segregation

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Amol K.
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Cashout Refinance Car--> Invest in Real Estate. Deduct Interest?

Amol K.
Posted Aug 6 2020, 15:25

If I cash-out refinance my personal car (originally purchased all cash), then use the proceeds to buy a rental property, can I deduct the interest paid on the car from the cash-flow coming from the rental property, for tax purposes?

If I borrow cash from my credit card (cash advance) and use it for the same purpose, can I deduct that interest?

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