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Is the interest tax-deductible when it’s on a home equity loan or credit line?

April 26, 2017credit home equity line loan tax-deductible

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Is the interest tax-deductible when it’s on a home equity loan or credit line?

2 Answers

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A. Usually. Most taxpayers can deduct the interest paid up to 100% of the home’s value of your home. However, some restrictions may apply so it’s best to consult with your tax advisor or financial manager.

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Usually. Most taxpayers can deduct the interest paid up to 100% of the home’s value of your home. However, some restrictions may apply so it’s best to consult with your tax advisor or financial manager.