Question

 How to Deduct the Interest on a HELOC?

Answer The interest on home equity line of credit, or HELOC, can be deducted from your income taxes regardless of how you use the money. At the end of the year, your lender will send you a Form 1098 that ... Read More »
http://www.ehow.com/how_7351822_deduct-interest-heloc.html

Top Q&A For: How to Deduct the Interest on a HELOC

Is interest deductible on an HELOC if it is for improvement?

The interest on a home equity line of credit (HELOC) is deductible up to the same limits--the interest on the first $1 million ($500,000 if filing separately)--as mortgage interest if the loan is u... Read More »
http://www.answerbag.com/q_view/2196987

What is a HELOC lifetime interest rate cap?

A HELOC lifetime interest rate cap is the maximum percentage rate of interest that can be charged on a home equity line of credit during the life of the loan. The amount is typically disclosed in t... Read More »
http://www.answerbag.com/q_view/2165732

Is the interest from heloc loans tax deductable?

If a borrower itemizes his tax deductions, he may deduct the interest from his HELOC (home equity line of credit) as long as it was used for home improvements or other noninvestment purchases. Cert... Read More »
http://www.answerbag.com/q_view/2013509

How to Deduct Mortgage Interest?

For the purposes of a tax deduction, mortgage interest includes the interest and points on a primary residence. The term “points” refers to interest that is paid at the time the mortgage is sec... Read More »
http://www.wikihow.com/Deduct-Mortgage-Interest


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