Even though once again, this new devotion would depend not on how the mortgage is actually planned and you will defined, however, how the borrowed funds proceeds can be used, and you may especially, whether or not they’ve been familiar with and get, build, or significantly boost the number one or 2nd quarters
Sooner or later, the importance of this type of distinctions between attention to your acquisition indebtedness in the place of home security indebtedness isn’t merely they’ve some other financial obligation limits to have deductibility as well as other AMT cures. Read the rest of this entry »