Is the interest tax deductible on a home equity loan?

Answer On One Hand: Limited AmountAs of 2010, you can only deduct the interest on the first $50,000 of your home equity loan. If you file a joint return with your spouse, the limit increases to the intere... Read More »

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Is a home equity loan tax-deductible?

According to the IRS, the interest on a home equity loan is tax-deductible if the loan was taken out after October 13, 1987 and totaled $100,000 or less. The loan cannot exceed the fair market valu... Read More »

How to Make your New Car Tax Deductible using a Home Equity Loan?

Home equity loans are traditionally thought of as a smart money source for home renovation projects because they are often low-interest loans, and the interest on a home equity loan is tax deductib... Read More »

Is a Home Equity Loan Tax-Deductible for a Co-Signer?

The mortgage interest tax deduction could mean saving thousands of dollars each year on your tax bill, because even relatively small interest rates mean big numbers on a large loan like a mortgage.... Read More »

Is interest on a loan for a mobile home tax deductible?

A mobile home does qualify you to take the home mortgage interest deduction. The interest you pay on your mobile home mortgage should be reported to you on the 1099-INT you receive from your lender... Read More »