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Updated almost 6 years ago,

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Andrey Y.
  • Specialist
  • Honolulu, HI
1,261
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1,887
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Is my HELOC interest deductible for 2018?

Andrey Y.
  • Specialist
  • Honolulu, HI
Posted

I am sure this was probably answered somewhere on this forum, but I was unable to find it.

I took out a HELOC for $51K, and have payed IO payment on it during all of 2018. Not sure exactly what I used this money for, since I had cash in several accounts and didn't specifically earmark this $51K for any specific investment. I know I didn't improve/CapEx in my own home (I rent where I live). But I did use it for investment purposes - such as investing in a property or an apartment syndication. Is this interest deductible on my 2018 taxes. Thanks for taking your Friday (and weekend) to answer my question!

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