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Updated almost 3 years ago,

User Stats

14
Posts
6
Votes
Josh Gardere
  • Rental Property Investor
  • Atlanta, GA
6
Votes |
14
Posts

Is personal loan deductible if it’s used for house repairs?

Josh Gardere
  • Rental Property Investor
  • Atlanta, GA
Posted

One of my properties has been hit with some code violations since it’s a pretty old house. Approximately 50-70k will be needed to get it up to code.

If I were to get a personal loan to pay for the these home repairs, would the material & labor expenses, paid with the loan, be fully tax deductible?

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