If you borrows against a line of credit can and buy a commercial rental, can you deduct the interest?

If one were to use a line of credit to borrow funds and then use those funds to purchase a commercial rental property, could they deduct the interest paid on the line of credit loan?
In General Area - Asked by Michael J. F. - Mar 25, 2010
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Answer(s)

Blake W.
Owner/Investor
Redwood City, CA

yes

Mar 26, 2010
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Chris R.
Broker/Agent
Denton, TX

Absolutely - the line of credit is immaterial to the benefits of owning the property and all would be available to the owner in all respects. Chris Rosprim, Scott Brown Commercial

Mar 27, 2010
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