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October 7, 2019
Question

Tax deductions on HELOC taken out from a prior primary residence before 2017

  • October 7, 2019
  • 1 reply
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A HELOC taken out on a prior primary residence before 2017 and used as down pay for the new primary residence, is the interest sill deductible under 2018 tax laws?

    1 reply

    October 8, 2019

    is the debt secured by one or both homes.  yes = deductible subject to maximum amount allowed for home acquisition indebtedness.  no = not deductible