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Key takeaways. Joint filers who took out a home equity loan after Dec. 15, 2017, can deduct interest on up to $750,000 worth of qualified loans ($375,000 if single or married filing separately).
Interest paid on a home equity line of credit (HELOC) is tax-deductible if the funds are used to buy, build or substantially improve the home that secures the loan. Can you write off interest on a ...
Since the 2018 tax reform law, the tax deductions limits have changed on all mortgage and home equity debt. You can only deduct interest charges on a maximum of $750,000 in residential loan debt ...
A home equity loan is a loan using your house as collateral — a somewhat risky move, but useful in some circumstances. Furthermore, you may be able to deduct the interest you pay on a home ...
Joint and single filers who took out their home equity loan after Dec. 15, 2017, can deduct interest on up to $750,000 worth of qualified loans, while separate filers can deduct the interest on up ...
Tax advantages: If you use the funds from the loan to make significant home improvements or repairs, the interest you pay on the home equity loan is tax-deductible (assuming you itemize deductions ...
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