HELOC Interest Deduction Calculator

Under TCJA rules, HELOC interest is only deductible if the funds are used to buy, build, or substantially improve your home. Calculate your deduction.

HELOC Details

Tax Year

Filing Status

First Mortgage Balance ($)

HELOC Balance ($)

HELOC Interest Rate (%)

% Used for Home Improvement

AGI ($)

Other Itemized Deductions ($)

Deductible HELOC Interest

$4,500

Total Itemized Deductions

$32,500

Standard Deduction

$32,200

Deduction Comparison

Recommendation

Itemize

Itemized is $300 above standard

Estimated Tax Benefit

$66

From mortgage + HELOC interest deduction

Related Calculators

Mortgage Interest Deduction

$1M loan cap ($500k MFS), $40k SALT cap, Schedule A itemized

Mortgage Points Deduction

Purchase = year-1 full; refi = amortize over term; refi-with-improvements = split (Pub 936)

Itemized vs Standard

$40k SALT cap, mortgage interest, 7.5% AGI medical floor