In 2023 I took out a HELOC to purchase a mobile home. This is a second home that I don't live in, but purchased for my sister. May I claim the $10,000 paid in interest in 2024 on my income tax return.
Thank you - Pamela
No, the loan must be a lien on the property.
If you financed the mobile home, yes. If you took a HELOC on a different house and bought the mobile home, no.
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