Interest paid on a home equity loan is not deductible.

Name: Interest paid on a home equity loan is not deductible.
Brand: Quizplus
Rating: 4.9 (60 reviews)

Question

Quizplus · Accepted Answer

Interest paid on a home equity loan is generally deductible, up to certain limits and restrictions set by the IRS. However, starting in 2018, the Tax Cuts and Jobs Act limited the deductibility of interest on home equity loans that are not used to buy, build, or improve the taxpayer's home.

Interest Paid on a Home Equity Loan Is Not Deductible