Thank you for asking. No, The interest is fully deductible in 2017. The law is effective in 2018, so since it was paid off in 2017, it is not an issue.
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Originally Posted by jnieman
2. Home equity loan interest
Mortgage interest on purchase loans is still deductible under tax reform up to $750,000, but the deduction for interest on home equity loans becomes nondeductible once 2018 begins. Unlike with purchase loans, there's no grandfathering provision for existing home equity loans, so for those for whom the deduction is important, looking at potentially repaying those loans sooner than expected might be worth considering.
Does this apply to home equity lines that existed in 2017 but were paid off at the end of the year in 2017?
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