Can I deduct interest on a home equity line of credit for 2018 taxes?

[flyhigh01]

HELOC interest is currently tax deductible if itemizing federal income taxes. Is HELOC interest still tax deductible under the new tax law for 2018 taxes?

[Marketstar · Accepted solution]

Interest from home equity loans is unfortunately no longer deductible in 2018.

[MattB]

The IRS just published new guidance on this topic on 2/21/2018.  I believe the answer might be different now depending on how the funds are used.

[jennmeagh]

Will Turbo Tax update their software to reflect this?

[kbgods]

They should, if the HE line is used for home improvement, then it is still deductable