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Old 04-26-2007, 12:31 AM
cjray4 cjray4 is offline
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Default If I get a home equity loan to by a car and remodel home can I deduct the
interest on taxes?


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Old 04-26-2007, 05:40 PM
utterlyagog utterlyagog is offline
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Yes. You combine the interest from the equity loan with the interest (and taxes) you paid on your primary loan.
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Old 04-26-2007, 09:24 PM
veesmom veesmom is offline
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The best thing to do is check with your accountant, if you have one, but typically, the interest on any loan in which you use your house as collateral, can be deducted on your taxes.
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Old 04-26-2007, 09:25 PM
Richard S Richard S is offline
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Interest on loans are tax deductible.
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