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IRS issues do’s and don’ts for deducting interest on home-equity borrowing – Another major use that is now cut off from interest deductions when using home-equity dollars. You spend the other $20,000 to pay off student loans. Under IRS allocation rules, you can write off.
How Do I Know If My Home Equity Loan Is Tax Deductible? – Changes to the Home Equity Loans deduction is more likely to hit the average American. These changes begin with tax year 2018. This mean the new rules will affect the taxes you file in 2019. You.
Interest on home equity loans is still deductible, but with a big caveat – According to the advisory, the new tax law suspends the deduction for home-equity interest from 2018 to 2026 – unless the loan is used to “buy. tool for consumers,” he said. A: No. The rules apply.
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