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Author: 3chains One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121144  
Subject: Complex home equity line tax Q Date: 8/13/2004 12:14 PM
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o We did some signficant home improvement work using a contractor ($25K+).

o Our home equity line of credit (HELOC) was still in process when the checks were due, so we paid cash out a money market account.

o I know that if we had paid the contractor from our HELOC, the interest would have been tax deductible.

My question is, if we "deposit" an equal amount of money from our HELOC back to the money market account, will it still be deductible? Or did we miss the opportunity?

Thanks for any advice.
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