Interest on home equity loans is only deductible if the funds were used to buy, build, or substantially improve the home securing the loan.
: You can deduct interest paid on up to $750,000 of mortgage debt ($375,000 if married filing separately) for a first or second home. deductible home buying expenses
This limit applies to loans taken out after December 15, 2017. Interest on home equity loans is only deductible
Check your settlement statement for any pro-rated property taxes you reimbursed to the seller at closing; these are often deductible even if they aren't on your Form 1098. 000 of mortgage debt ($375