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Pedro has a $600,000 mortgage on his California home. He additionally takes out two home equity loans, one for $50,000 to fund his son’s college education and another for $110,000 to add on to his home. What is the total principal from these loans on which he can deduct interest expenses?

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Pedro has a $600,000 mortgage on his California home. He additionally takes out two home equity loans, one for $50,000 to fund his son’s college education and another for $110,000 to add on to his home. What is the total principal from these loans on which he can deduct interest expenses?






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