Line of credit Interest payment question

[Graham Lane]

YEP!
That's the deal. So would it make sense to classify the interest payment to
a particular bank under an expense, or just leave it as a mortgage expense?
Whats gonna be useful tax wise, research wise later tat I am not thinking
of?
Thanks

On Mon, Feb 8, 2010 at 5:33 PM, David T. <sunfish62 at yahoo.com> wrote:

> If I understand you correctly, you are making an interest-only payment to
> your bank for your HELOC. If I am correct, then you shouldn't see anything
> in the Liability account, since you didn't change the value of that account.
> You didn't pay anything into the loan--that's why the bank didn't change the
> balance of your account with them. All you are doing is paying them.
>
>