Home Equity Loan Tax Deduction

Is it possible to get a tax deduction on your home equity loan?home equity

Interest on home equity loans has traditionally been fully tax-deductible. But with the tax reform brought on by President Trump’s Tax Cuts and Jobs Act (TCJA), a lot of homeowners are struggling to work out whether they can still take a home equity loan tax deduction.

The answer is you can still deduct home equity loan interest. But the rules have changed, and there are more limitations than ever before.… Read the rest