General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
Using multiple LOCs for investment properties
I have a LOC secured by my house (primary residence) and another LOC with a slightly higher interest rate secured by a rental property. Both LOCs were established before Dec 2017. Keeping the new mortgage interest write-off tax changes in mind, if I want to buy another investment property, which LOC should I use? Can the mortgage interest on either one be included as rent expense when I file taxes? As a side note, if I run up the full balance on my house LOC, I will be under the 1M limit, but I will not be using the money to improve the property that secures the mortgage. Any advice is appreciated!