How to report profits from HELOC money in tax report

[Roee Agami]

Hi,
I opened a HELOC account and withdrew the money to lend it to an RE developer.
I made profits from it eventually, as well as paid interest to the HELOC bank.

Can I report it in a way that will allow to deduct the interest I paid to the HELOC bank? Which form does the developer need to provide?
My accountant was not very convincing with his answer, so wanted to hear other ideas.

Thanks!