HELOC interest no longer deductible for tax purposes

[Michinori Kaneko]

Hi, 

Looks like taking out HELOC to purchase additional investment property is not as beneficial any more (still beneficial! just not as). The interest paid on HELOC to purchase investment property is no longer tax deductible. You can read IRS guidance here.  Still ok to use HELOC to buy with cash, the immediately refinancing the mortgage on the property to pay back HELOC. Just posting as an FYI for everyone out there.