Home Loans Austin

home improvement loans tax deductible

The deduction amount includes the interest you pay on your mortgage, home equity loan, home equity line of credit (HELOC) or mortgage refinance. If you took on the debt before Dec. 15, 2017, you can deduct interest on $1 million worth of qualified loans for married couples and $500,000 for those filing separately for the 2018 tax year.

Tax Deductible Home Expenses – eFile – Reduce Your Taxes By Claiming Tax Deductible Home Expenses. Tax Deductions Related To Mortgage Interest, Real Estate, Home Improvements And Other Home. Home Expense:Interest payments on home equity loans and lines of credit.