It depends. Interest on a loan used for personal purposes is not deductible. Interest on a home equity loan, however, is deductible regardless of what you use the proceeds for. In order for a loan to be treated as a home equity loan, it must be secured by your residence. If you arrange the loan with the corporation so that the loan is secured by the residence, then interest would be deductible as a home equity loan. The limit on home equity debt for a married couple filing jointly is $100,000.
Depreciable property used in a trade or business and held for more than a year. All Section 1231 gains and losses are netted; a net gain is treated as capital gain, a net loss as an ordinary loss.