Incredible Home Equity Indebtedness Irs References. Home equity indebtedness was defined as mortgage debt secured by the primary or second residence and used for any other purpose. (and in either case, the property must.

(and in either case, the property must. However, an interest deduction for home equity indebtedness may be. However, the tax cuts and jobs act of 2017 suspended the deduction for interest paid on home equity loans and helocs until 2026—unless, according to the internal revenue.