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The New DU. Reply #16: Or the IRS goes after them
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One_Life_To_Give
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Wed Jan-26-05 04:54 PM
Response to Reply #6 |
| 16. Or the IRS goes after them |
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Many home Equity Loans are not supposed to have their interest payments, Tax Deductable. It is only deductable if used for Improvements to the Residence. Using the money for other purposes does not qualify.
Although the advertising encouraging people to take out home equity loans, skirts this issue.
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