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cod104
New Member

I need help with a home equity line of credit. Is this no longer deductible?

 
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DDollar
Level 4

I need help with a home equity line of credit. Is this no longer deductible?

It depends on what you did with the proceeds from the home equity line of credit.  If you used the proceeds for anything other than substantial renovations, the interest is no longer deductible.  This applies regardless of when you took out the loan or accessed the line of credit.

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DDollar
Level 4

I need help with a home equity line of credit. Is this no longer deductible?

It depends on what you did with the proceeds from the home equity line of credit.  If you used the proceeds for anything other than substantial renovations, the interest is no longer deductible.  This applies regardless of when you took out the loan or accessed the line of credit.

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