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Updated about 11 years ago on . Most recent reply

Randy King's profile image
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Randy King
  • Investor
  • from Madison, Alabama
  • Member since Feb 8, 2013
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Randy King's profile image
Randy King's profile image
Randy King
  • Investor
  • from Madison, Alabama
  • Member since Feb 8, 2013
Connect
Randy King
  • Investor
  • Madison, AL
28
Votes |
93
Posts
Tax, SDIRAs & Cost Segregation

HELOC Question?

Randy King
  • Investor
  • Madison, AL
Posted

If I get a HELOC on my personal residence and then use the money to purchase properties in an LLC, how do I account for the interest? I would assume a note between me and my LLC would be needed. I would like to keep the interest I pay on the HELOC off Schedule A. How would I do this?

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