Yes, Interest on Home Equity Line of Credit (HELOC) debt is tax-deductible if you use the funds for renovations to your home; “buy, build, or substantially improve". What’s more, you must spend the money on the property in which the equity is the source of the loan. If you meet the conditions, then interest is deductible on a loan of up to $750,000 ($375,000 or more for a married taxpayer filing a separate return).
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