HELOC - LLC question

[Craig Steltz]

All,

If I take out a HELOC under an LLC. Meaning the LLC would own the HELOC. How would one deduct interest on their taxes? this wouuld be a single member LLC. Can I just use the EIN on my own personal tax return and decduct this? Or does the HELOC have to be owned by an individual in order to get the tax deduction?

Thanks

OB

[Jon Holdman]

Well, plan on some serious study, then. Real estate investing taxes are quite complex with lots of ins and outs. Good tax advice and proper structuring of your entities and investments can make a significant difference in your bottom line.