Your Income Taxes
#21
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.
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B.C.
California - Southern California S2000 Owners
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11-23-2011 07:06 PM