Cool Home Equity Interest Deduction In Gop Tax Plan 2022. They discovered that if this plan. The tax cuts and jobs act of 2017, however, did suspend the interest deduction on helocs and home equity loans, unless homeowners use them to make improvements on.

Under current rules, taxpayers can itemize and deduct the interest paid on up to $1 million on a mortgage, and home equity debt of up to $100,000. Generally, homeowners may deduct interest paid on heloc debt up to $100,000. And this, say economists, is likely to reduce the.