Taxpayer got a HELOC in 2018 and used some of the funds to improve/repair her residence and she also paid off some credit card debt.
Is there a guide on how I allocate mortgage interest between deductible and nondeductible? If she took out all proceeds on the same day, it would be simple algebra but that's not the case.
Is there a guide on how I allocate mortgage interest between deductible and nondeductible? If she took out all proceeds on the same day, it would be simple algebra but that's not the case.
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