With the implementation of the new tax code, 2018 is the last year you can take a deduction for interest paid on your HELOC or HELOAN. People have traditionally tapped into home equity to pay for renovations, tuition, pay off credit cards, buy a car or pay for a medical emergency. And you can still use your HELOC for all those reasons and more – you just can’t take a deduction for the interest paid. Read on to understand the details:
The HELOC Interest Deduction Is Dead