S2000 Vintage Owners Knowledge, age and life experiences represent the members of the Vintage Owners

Your Income Taxes

Thread Tools
 
Old 01-01-2019, 12:40 PM
  #21  

 
S2KRAY's Avatar
 
Join Date: Nov 2000
Location: Lewes, DE
Posts: 8,342
Likes: 0
Received 705 Likes on 477 Posts
Default

Originally Posted by ralper
The answer to whether or not you can deduct interest on a home equity loan originated before 2018 is maybe. If the debt was used to buy, build or substantially improve the residence that it is secured against, you can continue to deduct the interest. If it was used for other purposes (ie: paying off credit card debt, the purchase of a car and etc.) you cannot.
Not a fan of Home Equity loans to buy stuff or pay off credit cards. Maybe for a home improvement as that will add to the value of the home and the interest is therefore deductible. Thank you for all the great advice.
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
B.C.
California - Southern California S2000 Owners
5
11-23-2011 07:06 PM
ntzz
S2000 Talk
25
04-09-2009 08:38 PM
LostMotion
California - Southern California S2000 Owners
8
02-13-2009 12:10 AM
mpower22
S2000 Talk
5
03-10-2004 08:08 PM
mns2k
S2000 Vintage Owners
4
03-04-2004 04:20 PM



Quick Reply: Your Income Taxes



All times are GMT -8. The time now is 02:36 AM.