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IRC Section 163(h)(3)(B) - Bradford Tax Institute
https://www.bradfordtaxinstitute.com/Endnotes/IRC_Section_163h3B.pdf
Internal Revenue Code Section 163(h)(3)(B) Interest (a) General rule. There shall be allowed as a deduction all interest paid or accrued within the taxable year on indebtedness. (b) Installment purchases where interest charge is not separately stated. (1) General rule. If personal property or educational services are purchased under a contract-
Tracing Rules: Tracking the Deductibility of Interest
https://cbmslaw.com/2003/05/31/tracing-rules-tracking-the-deductibility-of-interest/
Tracing Rules That Apply For Deductibility Of Interest
https://www.taxcpe.com/blogs/news/tracing-rules-that-apply-for-deductibility-of-interest
Under the tracing rules the taxpayer must trace the use of the funds to their use, and since the debt was not used to acquire the rental, the interest on the loan cannot be deducted as rental interest. The funds can be traced to the purchase of the taxpayer’s home.
Part I Section 163.—Interest - IRS tax forms
https://www.irs.gov/pub/irs-drop/rr-2010-25.pdf
indebtedness under § 163(h)(3)(B), and does not exceed the fair market value of the residence reduced by the acquisition indebtedness secured by the residence. Thus, $100,000 of the $200,000 is treated as home equity indebtedness under § 163(h)(3)(C). Under § 163(h)(3)(A), the interest on both acquisition indebtedness and home
“Tracing Rules” that Apply for Deductibility of Interest
https://www.bormel-grice.com/blog/tracing-rules-apply-deductibility-interest
Under the tracing rules, interest expense is allocated in the same way as the debt on which the interest is paid. The debt, in turn, is allocated by tracing payouts of the debt proceeds to specific expenditures. The property that secures the loan generally won't affect the way the interest is treated. It's the use of the proceeds that counts.
26 CFR § 1.72(p)-1 - LII / Legal Information Institute
https://www.law.cornell.edu/cfr/text/26/1.72(p)-1
(ii) Because the plan loan satisfies the requirements to qualify as a principal residence plan loan (taking into account the tracing rules of section 163 (h) (3) (B)), the plan loan qualifies for the exception in section 72 (p) (2) (B) (ii).
UNDERSTANDING TRACING RULES
http://classic.austlii.edu.au/au/journals/QUTLawRw/2016/9.pdf
A conventional understanding of tracing rules suggests that C can keep the $1 million. Those rules sometimes involve the statement that at common law ‘it is not possible to trace through a mixed bank account’, or ‘it is not possible to trace through an overdrawn bank account’, or, more generally, ‘it is not possible to trace backwards’.
SENT - IRS Tracing Rules for Interest Deductions
https://borelassociates.com/wp-content/uploads/2015/07/Tracing-Rules-for-Interest-Deductions.pdf
Schedule A of Form 1040. (Loan funds exceeding $100,000 would come under the previously discussed tracing rules.) Example: X takes out a home-equity loan for $100,000 on X’s residence. The loan is secured by a mortgage on X’s home. The money is used for the following purchases. Home improvements $ 20,000 Rental property 50,000
Internal Revenue Service memorandum - IRS tax forms
https://www.irs.gov/pub/irs-wd/1201017.pdf
Section 163(h)(3) was amended by the Omnibus Budget Reconciliation Act of 1987 (OBRA 1987) to allow a deduction for qualified residence interest for up to $1,000,000 of acquisition indebtedness and $100,000 of home equity indebtedness.
Litigating Section 11's Tracing Requirement: A ... - Sidley …
https://www.sidley.com/en/insights/publications/2019/06/litigating-section-11s-tracing-requirement
Litigating Section 11's Tracing Requirement: A Practitioner's View of a Powerful Defense June 2019 Share Summary To recover under Section 11 of the Securities Act of 1933, a plaintiff must be able to “trace” his or her shares to an allegedly false or misleading registration statement.
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