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TCJA Imposes Limits on Mortgage and Home Equity Loan Interest Deductions

  • Writer: Evan Kirkpatrick
    Evan Kirkpatrick
  • Feb 13, 2018
  • 1 min read

How much mortgage and home equity loan interest can you now deduct?

Prior to the Tax Cuts and Jobs Act (TCJA), you could deduct interest on a total of $1 million in mortgage debt on your principal and second homes and interest on up to $100,000 of home equity debt (subject to conditions).

Under the TCJA, from 2018 to 2025, the limit on home acquisition debt is $750,000. But for home loans incurred or refinanced before Dec. 15, 2017, the pre-TCJA limits still apply.

Interest on home equity loans isn’t deductible for 2018 (but it’s still deductible on 2017 returns).

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