Are home equity fees tax deductible?

[smssngll]

Are home equity line fees deductible?  We took out a home equtiy in 2016 and incurred fees associated.  ie appraissal etc  Are those fees deductible like the interest expense?

[MichaelMc · Accepted solution]

If you take out a home equity loan, your interest payments may qualify for a deduction in addition to your mortgage interest. To qualify, you must have obtained the loan after Oct 13, 1987 and it must also be secured by your home.

For tax purposes, only the balance of the loan that is the smaller of $100,000 or your equity in the home qualifies for the interest deduction. Your equity is equal to the amount you could sell the home for minus the amount you still owe on the mortgage.

Fees paid in connection with obtaining the loan (attorney fees, appraisal, survey, etc.) are  not tax deductible.