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deducting home equity interest after tax law changes

based on trump tax law changes, can i deduct home equity interest still or should i just pay off this darn thing? Balance is $108,808. by djpig999500 from Oakland, Maryland. Jun 24th 2019 Reply


Depends? If you used Heloc to rehab house or buy house you can deduct interest. I would reach out to your CPA for further questions on deductions. Thanks.

Jun 24th 2019
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

More info needed, but in general.. your home equity line of credit had lots of restrictions as to whether it could or could not be deducted.. That being said and assuming it is deductible, it still is.. however, the biggest change is in regards to the standard deduction increase.. calculate your taxes taking the standard deduction and then recalculate doing a schedule A.. see which one nets you less taxes... I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Jun 25th 2019
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