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Author: billmurrayfan One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: mortgage deduction Date: 7/16/1998 10:28 PM
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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?
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