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Updated over 3 years ago on . Most recent reply

Pedro Morais's profile image
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Pedro Morais
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  • from Boston
  • Member since Oct 19, 2017
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Pedro Morais's profile image
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Pedro Morais
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  • from Boston
  • Member since Oct 19, 2017
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Pedro Morais
  • Investor
  • Boston
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Tax, SDIRAs & Cost Segregation

Buying Investment Property under LLC with Personal HELOC

Pedro Morais
  • Investor
  • Boston
Posted

Hi BP,

I have recently bought a 6-unit residential investment property with a personal HELOC. This property is under an LLC. Is there a way of getting a tax deduction on the interest I am paying on the HELOC?

Thanks,

Pedro 

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John Warren's profile image
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John Warren
  • Real Estate Broker
  • from 3412 S. Harlem Avenue Riverside, IL 60546
  • Member since Apr 17, 2015
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John Warren
  • Real Estate Broker
  • from 3412 S. Harlem Avenue Riverside, IL 60546
  • Member since Apr 17, 2015
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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
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John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
Replied

@Pedro Morais yes. Talk to your accountant ASAP about this, but yes you can pay the interest with your business and write off the interest. 

  • John Warren
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