Question by Richard H: Home equity loan vs line of credit loan?
Does anyone know if a home equity loan is somewhat deductible on income tax?
Best answer:
Answer by Lindsey
i think the interes is on the first 12 months
Add your own answer in the comments!
ya its is deductible
It is important that if you ask a question about such a difficult subject (these are extremely difficult subjects) that you tell us at least what you want to use the information for.
yes the interest paid on a home equity loan will be tax deductible depending on what u use the heloc on, please check with your local tax accountant to see.