papasmu1971
Level 3
12-07-2019
06:16 AM
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purchased truck with HELOC executed in 2016. Can I deduct the interest on Schedule C for 2018 return.
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sjrcpa
Level 15
rbynaker
Level 13
12-07-2019
06:16 AM
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The "LOC" is short for Line of Credit. Were there any other draws on the account?
If not, I agree with sjr, "HE" is no longer qualified residence interest so you follow the money.
