How to prove that home equity loan taken is used to buy a home?
Asked by: Loan 2711 views Home Equity
I want to take a home equity loan from a USA bank on my home in USA and use the proceeds to buy a second house in India? Can I deduct the interest on this home equity loan from my income for tax purpose?
If so, what kind of proof do I need to provide to show that the money is used to buy a house?
I am subjected to AMT… Is it still deductible for AMT?
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