Deducting HELOC interest on an investment property
1 Reply
T. Harris
New to Real Estate
posted 2 months ago
I took out a HELOC on a rental property(prop1) and used the proceeds to purchase another investment property(prop2). Can I deduct the interest on either property?
Kyle J.
Rental Property Investor from Northern, CA
replied 2 months ago
@Tanya Harris Yes, according to the interest tracing rules, you'd deduct the interest against rental property 2.