Is this true of the proposed tax bill?
"You'll also want to think twice about taking out a home equity loan or line of credit, as the bill won't permit you to deduct the interest."
My question though is - if you already have a loan from a HELOC - is the deduction of interest grandfathered in when things like this change?
Just curious. Not political - just trying to decide whether to take out an interest only loan from HELOC before the end of the year if it would be grandfathered...
Similar to the strategy of funding a DAF with more money now.
Thanks
"You'll also want to think twice about taking out a home equity loan or line of credit, as the bill won't permit you to deduct the interest."
My question though is - if you already have a loan from a HELOC - is the deduction of interest grandfathered in when things like this change?
Just curious. Not political - just trying to decide whether to take out an interest only loan from HELOC before the end of the year if it would be grandfathered...
Similar to the strategy of funding a DAF with more money now.
Thanks