Tax Advantages for Your Dream Project

HELOCS Deductible for Capital Improvements

The Tax Cuts and Jobs Act of 2017, enacted Dec. 22, suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan, the letter said.

This means that households may take a tax deduction when these equity loans and credit lines are used for home improvements!

Tax Breaks for Homeowner Building Projects