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Incredible Home Equity Line Of Credit Interest Still Deductible References. The answer is you can still deduct home equity loan interest. There is a new limit to be aware of (as of the 2018 tax year) so that you can deduct the interest from your renovation home equity loan.
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Deducting home equity loan interest on your taxes as of 2017, the rules around deducting interest on home equity loans have changed — and may change again in 2026. Interest on home equity debt is tax deductible if you use the funds for renovations to your home—the phrase is “buy, build, or substantially improve.” what’s more, you must spend. Despite provisions in the tax cut and jobs act (tcja), home equity loan interest still may be deductible for some homeowners, along with interest on home equity lines of.
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