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Real Estate (Taxes, Mortgage Interest, Points, Other Property Expenses)

Question:   I took out a home equity loan to pay off personal debts. Is this interest deductible? Where do I enter this amount on my tax return?

Answer:   A loan taken out for reasons other than to buy, build, or substantially improve your home, such as to pay off personal debts may qualify as home equity debt.

  • The interest would be deducted on Form 1040 Schedule A (PDF), Itemized Deductions.
  • The amount you can deduct as interest on home equity debt is subject to certain limitations.

Additional Information:
Category: Itemized Deductions/Standard Deductions

Subcategory: Real Estate (Taxes, Mortgage Interest, Points, Other Property Expenses)


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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:
IRS, Tax Products Coordinating Committee
SE:W:CAR:MP:T:T:SP
1111 Constitution Avenue NW
Washington, DC 20224


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Page Last Reviewed or Updated: January 26, 2010