The Orange County Register quoted Partner Warren Hennagin in an article about the deductibility of home equity lines of credit under new IRS rules.
Orange County Register
By Jeff Lazerson
“It’s the old tracer rule,” said Warren Hennagin, CPA and partner at Marcum LLP. “If you used $50,000 for home improvement and another $50,000 for debt consolidation, only the $50,000 home improvement interest will be deductible.”