Court Denies Excess Home Mortgage Interest As Investment Interest.

The court, while noting that the qualified residence interest regulations allow debt exceeding the applicable limit to potentially be allocated to an otherwise deductible category of interest, has denied the taxpayers' investment interest deduction because they failed to show that the funds, which were from a loan secured by a qualified residence, were actually used for investing.  Minchem International, Inc., TC Memo 2015-56