Mortgage and Home Equity Loan Interest Deductions Under the Tax Cuts and Jobs Act
With its passage in December 2017, the Tax Cuts and Jobs Act (TCJA) changed the deductions for interest on mortgage and home equity loans. On February 21, 2018, the Internal Revenue Service (IRS) provided clarification on how the TCJA will be applied to mortgage and home equity loan interest deductions. Initially, application of the TCJA…