OIH - Equity mortgage interest

[Gretel]

It appears that equity mortgage interest (within its limit) does not need to be excluded when allocating mortgage interest for an OIH. It doesn't seem right, but I could not find anything to the contrary. Can someone please confirm?

[Burke]

It is still "mortgage interest." I have always done it.

[BP.]

Here's from the instructions for Form 8829:

"Do not include mortgage interest on a loan that did not benefit your home (for example, a home equity loan used to pay off credit card bills, to buy a car, or to pay tuition costs)."

http://www.irs.gov/pub/irs-pdf/i8829.pdf

[Gretel]

Thanks, BP. That makes more sense. I looked at the Pub for OIH but it did not occur to me to check out the instructions.