Personal Finance

Deducting interest for investing funds from home refinance

  • Last Updated:
  • Apr 19th, 2022 8:31 am
[OP]
Newbie
Jun 11, 2008
73 posts
2 upvotes

Deducting interest for investing funds from home refinance

Hi,

I am refinancing my house and will have access to say $100K (not in HELOC but cash). Could I invest these $100K and deduct the interest ($100K portion of my mortgage) from my taxable income? Basically I am trying to borrow money for investment and deducting interest.
1 reply
Member
Mar 26, 2012
461 posts
360 upvotes
yes, the interest is deductible if the $100k is used to earn investment income.

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