Review Of Claim Interest On Home Equity Loan Ideas. You can deduct home mortgage interest on the first $750,000 ($375,000 if married filing separately) of indebtedness. 15, 2017, you can deduct interest on a loan of up to $750,000 if you're a joint tax filer, or up to $375,000 as a single tax filer.

Here’s how that works with a home valued at $400,000 with a loan balance of $300,000. If you took out a home equity loan after dec. You'll need to meet some conditions: