Part I. Home Mortgage
Interest - This part
explains what you can
deduct as home mortgage
interest. It includes
discussions on points,
mortgage insurance
premiums, and how to
report deductible
interest on your tax
return.
Home
Mortgage Interest
Secured
Debt
Qualified
Home
Special
Situations
Points
Home Mortgage Interest
-
Points
Deduction Chart
Mortgage Insurance
Premiums
Form 1098, Mortgage
Interest Statement
How To Report
Special Rule for
Tenant-Stockholders
in Cooperative Housing
Corporations
Part II. Limits on
Home Mortgage Interest
Deduction - This
part of the publication
discusses the limits on
deductible home mortgage
interest. These limits
apply to your home
mortgage interest
expense if you have a
home mortgage that does
not fit into any of the
three categories listed
at the beginning of Part
I under Fully deductible
interest. Your home
mortgage interest
deduction is limited to
the interest on the part
of your home mortgage
debt that is not more
than your qualified loan
limit. This is the part
of your home mortgage
debt that is
grandfathered debt or
that is not more than
the limits for home
acquisition debt and
home equity debt. Table
1 can help you figure
your qualified loan
limit and your
deductible home mortgage
interest.
Home Acquisition Debt
Home Equity Debt
Grandfathered Debt
