Not unless you’ve used the money to buy, build, or substantially improve your home. Before the tax law changes, homeowners were able to take out a home equity loan and spend it on things other than their residence. Now, you can only deduct interest on acquisition indebtedness, meaning a loan used to buy, build, or substantially improve a residence. If you took out a home equity loan pre-2018 and used it for any other purpose, interest on it is no longer deductible.
