Heloc interest tax deductible condo
Hi so i have some questions regarding tax deductions. I have a heloc which i have used 50k for investment of condo bought last year. The interest I am paying for the loan how and when is interest covered. The bldg will be complated around 2021. So right now i pay interest.
When i do my tax can i wright it off in next tax the interest or is it only when condo is made and then i can write off. The bldg basically get paid by check fron my bank the downpayments. So i have record of the money parts. Just wanted advice how works
When i do my tax can i wright it off in next tax the interest or is it only when condo is made and then i can write off. The bldg basically get paid by check fron my bank the downpayments. So i have record of the money parts. Just wanted advice how works