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Deducting #Home #Loan Interest Is Trickier Under New #Tax Rules | AutoTraffic

New Alimony Tax Rules in Effect

It is not totally clear at this point whether amendments will fall under the new tax laws. Anyone contemplating ... Changes in mortgage interest deductions and state and local income taxes will ... read more

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

Are Home Equity Loans Still Deductible After Tax Reform?

The Tax Cuts and Jobs Act of 2017 imposed new ... deduction on your home equity loan no matter what you used the proceeds for in most cases, although the rules differed under alternative minimum tax ( ... 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

New laws could affect your 2018 tax return

But personal exemptions that work like standard deductions are going away. Therefore, interest paid on new home equity loans may no longer be deductible ... the losses on their 2018 return. Under the ... read more

Changes To Tax Laws Advisors Need To Know For 2019

New tax ... under this new law. For example, some adjustments to income that still stand are teacher’s credit, health insurance deduction, moving expense, IRA contributions, and student loan ... read more

3 Misconceptions About the New Tax Code That Could Hurt You

The 2018 tax overhaul brought a lot of changes to the tax code as we knew it. And now, even a year later, there is still a lot of misinformation about the new ... in under the old rules -- meaning you ... read more

Ask Carrie: Is Interest on a HELOC Still Tax-Deductible?

As you might imagine, the Tax Cuts and Jobs Act of 2017 created a bit of confusion around the tax-deductibility of mortgage interest in general and home equity lines of credit (HELOCs) in particular. ... read more

How to Split Mortgage Interest Tax Deductions

Under new changes to tax laws, the mortgage interest deduction will only apply to loans of up to $750,000.00. Interest on home equity loans will no longer be tax deductible on your tax return in 2019 ... 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 Equity Loan Rates

A home equity loan is a ... high-interest debt), you cannot deduct interest under the new tax law. If you are using a HELOC for any other purpose other than the home, you cannot deduct interest under ... read more

Taxpayers get good news on HELOCs

It’s official: Despite widespread fears to the contrary, the IRS has clarified that last year’s big tax bill did not kill all interest deductions ... loans. Under IRS allocation rules, you can still w... read more
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