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Daily Archives: May 8, 2018

What the New Tax Law Means for the Home Equity Loan Interest Deduction

NewsBy AdminMay 8, 2018

Prior to the recent tax law changes, taxpayers were allowed to deduct qualifying mortgage interest on loans up to $1 million, plus the interest on an additional $100,000 in home equity debt. The new tax law clearly limits the mortgage interest deduction to $750,000 worth of debt; however, treatment of home equity loan debt was…

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