Assume I take a home equity loan and then turn around and use the full amount as a down payment on a rental property. Can I treat the loan and the interest as fully associated with the rental property rather than as home mortgage interest?
Allocation of loan proceeds
Jun 22, 2012
1 Replies
Assume I take a home equity loan and then turn around and use the full amount as a down payment on a rental property. Can I treat the loan and the interest as fully associated with the rental property rather than as home mortgage interest? Yes.
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