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Employee
January 4, 2025
Solved

I paid interest on a HELOC draw and then used the draw money to trade stocks. Is interest tax deductible?

  • January 4, 2025
  • 2 replies
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    Best answer by DoninGA

    No, the interest is not deductible.

    The HELOC is secured by your residence so any draws from the HELOC have to be used to make improvements to the residence so that the loan interest is deductible.

    2 replies

    DoninGA
    DoninGAAnswer
    Employee
    January 4, 2025

    No, the interest is not deductible.

    The HELOC is secured by your residence so any draws from the HELOC have to be used to make improvements to the residence so that the loan interest is deductible.

    Employee
    January 4, 2025

    Deleted.