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$20k x interest rate if it was IO the whole time. If it was PI then more complicated. No need for a new offset.

I like Rolf's unscrambling an egg analogy. Don't worry too much. Just don't claim the interest on the $20k loan - which wouldn't be much anyway and then split the loan from which the $20k came.

You have already contaminated the $20k loan. Not able to rectify. if the $20k was borrowed from loan B or another loan, then this loan has become a mixed purpose loan. You would be able to rectify this by splitting the deductible and non deductible portions on a reasonable basis. A lot of...