May I deduct some of the interest on my HELOC loan if I have used part of the loan to pay for things that were not home improvements?
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1 Best answer
SherylSTaxExpert
Level 3
Jun 6, 2019 12:28:56 AM
Beginning in 2018, the interest associated with HELOC loans is not deductible. If it was used for home improvements it would be deductible. Here is some addtional info on HELOC loans and the new tax law.
Beginning in 2018, the interest associated with HELOC loans is not deductible. If it was used for home improvements it would be deductible. Here is some addtional info on HELOC loans and the new tax law.