Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Wondering if anyone is well versed in the ins and outs of aquistition debt vs. follow on debt as it relates to mortgage deduction. My specific question: If you pay cash for a home and then later take out a mortgage, (either a standard mortgage or some form of home equity) does the interest qualify for a deduction?
I would really like to use margin interest to finance the home, and do have enough interest income to offset, but believe because of "tracking rules" this margin interest may not be eligible for deduction.

Any thoughts?
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.