If you buy a car with your home equity line of credit can you write off the interest on the unpaid b

According to IRS guidelines, interest on home equity loans can only be deducted if the HELOC was used for purchase money or home improvements. As a matter of practicality, 99% of all taxpayers with HELOC interest deduct that interest regardless of how the HELOC money was used……as they say, for more advice, consult your tax professional!