Quote:
Originally posted by Mmmm, Burger (C.J.)
Technically, are you allowed to deduct home equity interest used for something other than home improvements? Isn't there a significant limit at least on how much of that you do?
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No limit at all, as long as you put debt against a primary house. If you can get your banker to loan you ten mil against your one mil house, you can use ten mil for . . whatever. Cars, boats, second homes, vacations, blow, huge under-the-table contributions to local politi . . . . er . . . I mean, birthday presents, airplanes, . . .
