Hi,
If I have spare cash and put them into the revolving credit loan of my rentals, e.g. $300k loan, and I put in $100k, does it mean that if I need to take it out in the future for non-investment purpose, only the interest on $300k-$100k = $200k loan is tax deductible? Or is it a percentage?
Anyway that I can make it clear that I am not injecting money to the rental property to make the full amount tax deductible?
Thanks.
If I have spare cash and put them into the revolving credit loan of my rentals, e.g. $300k loan, and I put in $100k, does it mean that if I need to take it out in the future for non-investment purpose, only the interest on $300k-$100k = $200k loan is tax deductible? Or is it a percentage?
Anyway that I can make it clear that I am not injecting money to the rental property to make the full amount tax deductible?
Thanks.
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