POWERED BY NEW AMERICAN FUNDING

New Tax Plan Affecting Home Equity Lines of Credit (HELOCs). Interest on these Loans May No Longer Be Tax Deductible.

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According to the new tax plan Conference Agreement, home equity lines of credit may no longer be tax deductible. New plan suspends the deduction for interest on home equity indebtedness for tax years beginning after December 31, 2017; a taxpayer may not claim a deduction for interest on home equity indebtedness. This suspension remains in effect until 2025.