For self-employed business use-of-home deduction, besides mortgage interest, can you also use homeowners line-of-credit interest paid on insurance for line-of-credit?
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1 Best answer
TurboTaxTerry
New Member
Oct 30, 2019 1:43:05 AM
Business use of home deduction refers to expenses incurred in maintaining the property including any ongoing original costs of purchasing the property. If the Line of Credit was used for this purpose you can claim the additional interest expense.
1 Replies
TurboTaxTerry
New Member
Oct 30, 2019 1:43:05 AM
Business use of home deduction refers to expenses incurred in maintaining the property including any ongoing original costs of purchasing the property. If the Line of Credit was used for this purpose you can claim the additional interest expense.