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Deducting home loans interest is trickier under new tax rules

The rules for deducting mortgage interest on home loans just got trickier under the Tax Cuts and Jobs Act (TCJA.) The new rules generally limit the deductibility of mortgage interest on up to $750,000 ... read more

Know the rules about deducting mortgage interest - especially after a refinance

You obtain a new loan in the amount of $350,000. You can only deduct interest ... your tax advisors. In recent years, homeowners older than 62 have started to consider reverse mortgages. Under this ar... read more

Is the Mortgage Interest Deduction Impeding Home Ownership?

Essentially the same rules apply under the alternative minimum tax, except that home equity loan interest cannot be deducted. Viard said the mortgage interest deduction would ... other assets and dedu... read more

Affordable Housing and HELOC Deductibility Under New Tax Laws

The legislation also drops the mortgage interest deduction ... an increase in home-buying and economic growth in the housing industry. In the interim, it’s important for industry experts to inform hom... read more

Home loans can help you save tax

However, it can only be set off against your rental income Why not to go alone on a home loan, and other useful pointers 1. It makes tax sense to purchase the new ... under-construction flat may work ... read more

IRS may be stepping up scrutiny of mortgage deductions

Under ... home mortgage interest deductions, that appears to be the case. As one of the largest write-offs in the tax code — with a projected $357 billion revenue cost between fiscal years 2016 and 20... read more

Will Your HELOC Be Tax-Deductible?

Homeowners may see less of a tax break ... on that home in 2018? You could deduct interest on the full $900,000 of original mortgage debt under the old rules, but you couldn't deduct any interest on t... read more

New tax law favors charitable giving from IRAs

InvestmentNews has asked readers to submit their tax ... new tax law. — Mr. Hopkins A: Under the old law, most borrowers could deduct interest on the first $100,000 of "home equity indebtedness." This ... read more

3 Upcoming Tax Changes Homeowners Need to Know About

Like it or not, tax reform will soon officially be upon us. And while countless Americans will be impacted by the new laws ... deduct interest on loans worth up to $100,000. Under the new tax changes, ... read more

Plan to cut mortgage interest deduction stirs opposition

of Home Builders and the Mortgage Bankers Assn. were also quick to oppose the Obama proposal. The president's budget plan doesn't target the mortgage interest deduction directly; instead, it caps the ... read more

Kenneth R. Harney: Tax law doesn't kill home equity loan interest deduction, IRS says

WASHINGTON — It's official: Despite widespread fears to the contrary, the Internal Revenue Service has clarified that last year's big tax bill did not kill all interest deductions on home equity ... s... read more

House tax bill will cap mortgage interest deduction, leave 401(k)s unchanged

Under current tax law, Americans can deduct interest payments made on their first $1 million worth of home loans. The bill would allow existing mortgages to keep the current rules, but for new mortgag... read more