Explore the 1,000’s of tax questions answered by professionals.

Back to list

QUESTION DETAIL

Related User

Votes

Is interest tax deductible on a home equity loan?


ANSWER


The BIDaWIZ Team's Answer:

Yes: see IRC 163(h)(3). You may deduct the home equity interest

expense; provided that the indebtedness does not exceed $100K.

If the debt exceeds this limit, the portion of the interest that is attributable to the

excess debt amount is not deductible.

The BIDaWIZ Team

 

 

  • Currently 4.6190/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
1547 Ans.

COMPANY INFORMATION




We do not offer or provide any investment advice or services or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction or investment strategy.

Copyright © 2024 BIDaWIZ, Inc. Privacy Policy | Terms & Conditions