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Financial Planning / Tax Strategies


Subject:  interest deductibility, home equity LOC & loans Date:  6/28/2003  2:09 AM
Author:  gthang Number:  66082 of 127745

Suppose that I obtain either a HELOC or HE loan. Also, assume that:

1. the amount of the LOC or debt doesn't exceed $100k and
2. the loan to value ratio doesn't exceed the value of my home

Can I really deduct the related deductions irrespective of my use for that money (e.g., vacation, car, investments)?
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