What is the maximum amount of home equity debt (not acquisition debt) on which interest is fully deductible?
A)$0
B)$50,000
C)$100,000
D)$200,000
E)None of the above

Question

Quizplus · Accepted Answer

The Tax Cuts and Jobs Act of 2017 eliminated the deduction for interest on home equity debt not used to buy, build, or substantially improve the taxpayer's home. Therefore, the maximum amount of home equity debt on which interest is fully deductible is $0, unless the loan is used for those specific purposes.

What Is the Maximum Amount of Home Equity Debt (Not