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    Cricketer's Avatar
    Cricketer Posts: 1, Reputation: 1
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    #1

    Mar 15, 2009, 03:31 PM
    Home equity loan from rental invested in primary residence
    Is it allowed to take of interest on home equity loan taken from rental property to pay off down payment on a primary residence?

    What are the otherwise limits of home equity interest deduction?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Mar 15, 2009, 03:44 PM

    Home Equity interest is deductible based on the amount, not what its used for.
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