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Is Home Equity Line of Credit Interest Tax Deductible?

by HomeLoan.com

Home equity lines of credit that are secured by a primary residence or a second home are tax deductible as long as the legal limit isn't reached. The current limit for deductible home debt on first and second homes is $500,000 for a couple filing separately or $1 million if filing jointly.

References

IRS Deductibility Rules

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