Tax treatment - HELOC $ used for down payment on investment prop?

[Jay N.]

All

I purchased couple of properties using my own money earlier this year. Funded my LLC and bought the properties.

Am thing thinking on drawing down on my available HELOC the same amount as my down payment.

What would be the tax treatment on interest paid on HELOC?

Any way I can deduct the interest?

Jay

[Carl Fischer]

@Jay N.

If the money is used for business investments the interest should be deductible against the rental property. Many CPAs in the forum should be able to help you. These guys are great in this area. @Lance Lvovsky @Ashish Acharya @Brandon Hall @Michael Plaks