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Get your taxes done using TurboTax
- If you itemize, you can deduct the interest on up to $750,000 in mortgage debt, if the loan was used to buy or improve a first or second home.
- Mortgages and refinances taken out before December 16, 2017 are grandfathered in at the $1 million debt limit.
- You can still deduct the interest on a new or existing home equity loan or line of credit, but only if it’s used to buy, build, or substantially improve your home and your total mortgage debt doesn’t exceed $750,000.
June 1, 2019
12:44 PM