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Home Loan Funding
Is interest payable on money redrawn from a home loan and used to invested in shares tax deducable?
I have funds available to redraw from my home loan that I would like to invest in shares. Is the interest payable on the redrawn amount tax deductable (as would be the case if I were to take out a seperate loan to purchase the shares)?
The property related to the loan is my Principle Place of Residence.
If you are living in the US under most circumstances it would be.
Usually, on non-real estate investments, you will have a lot of leeway on what the money is used for but have your taxes done by a pro to make sure you do it correctly.
TIDEWATER HOME FUNDING "REVERSE MORTGAGE"