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Updated over 6 years ago,
Borrowing against rental to payoff primary home loan
The 2018 Tax law discourages itemization by providing a bigger exemption and capping mortgage interest and SALT deductions. I have a rental that is fully paid off, but my primary residence carries a mortgage.
If I borrow against the rental to pay off the primary home loan, will the new interest on the rental be a justifiable business expense deduction?