Question: do you have to claim a home equity loan on your taxes?
Answer: Despite the provisions of the Tax Cut and Jobs Act, the IRS in a 2018 advisory stated that home equity loan interest is still deductible, as is interest on HELOCs and second mortgages. ... The deduction is not unlimited; the total amount of mortgage-related debt interest that can be deducted beginning in 2018 is $750,000.