Is Home Equity Loan Interest Still Deductible?
Numerous IRS regulations have been released during the past year clarifying the Tax Cuts and Job Acts of 2017 (“TCJA”). For example, home equity loan interest will be deductible, despite what appears to be clear language in the TCJA that it is not deductible, if the home equity line is utilized for a capital improvement to a residence. Additional IRS rules and regulations will continue to be released related to the TCJA. We are available for tax planning and advice throughout the year. If you have a quick question about the law or how it applies in your case, please feel free to call us at no charge.
Robert Kaplan helped this client with his father's estate, which turned out to be a tricky case. Contact our Schaumburg IL law office to learn more about estate planning.
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