Is a 30 year home equity loan’s interest tax deductible

[Gregg Romig]

Looking to do a cash out refinance on my paid off primary residence. A 30 year home equity loan is cheaper and better interest rate, are the interest tax write off’s the same as a traditional 30 year mortgage?

Thank you for any feed back!! -Gregg

[Ashish Acharya]

Originally posted by @Gregg Romig:

Looking to do a cash out refinance on my paid off primary residence. A 30 year home equity loan is cheaper and better interest rate, are the interest tax write off’s the same as a traditional 30 year mortgage?

Thank you for any feed back!! -Gregg

Home equity indebtedness interest is generally not treated as qualified residence interest for years 2018-2025 so they are not deductible.  Even when it was deductible, the amount of loan qualified for deduction was capped at 100k.