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Home equity. An "original" loan is for the purchase of the home.
Note that in 2018 interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or substantially improve the taxpayer’s home that secures the loan. Paying off debts is not deductible.
Home equity. An "original" loan is for the purchase of the home.
Note that in 2018 interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or substantially improve the taxpayer’s home that secures the loan. Paying off debts is not deductible.
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