Deductible Interest Expense
March 30th, 2010
Question: Is home equity mortgage interest deductible for home office expenses?
The money was used to pay off credit cards. I am still paying on the home equity loan. If I do a home office deduction, which I qualify for in every way, can I use the home equity loan interest as a deductible expense?
Answer: Be careful with that, its not really worth to pursue it. You can get caught and then have problems with IRS.
The amount you talk about is so small, you shouldn’t bother really.
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