home equity line of credit interest tax deductible

Tax Deductible Home Mortgage Interest Payments and Points. – Home Equity Loans and Lines of Credit. For home equity loans incurred after December 15, 2017, you cannot deduct interest on the debt unless it is used to buy, build, or improve your home that secures the debt. Your interest deduction is limited to debts up to $750,000 (Married Jointly Filers) or $375,000 (Married Filing Separately).

Dear Tax Talk, Is the interest on a home equity line of credit tax-deductible? If it is, do I have to itemize, or can I take the standard deduction?

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