It is different than what number? Home Mortgage Interest is broken down into 3 different numbers on Schedule A
8a - interest and points from Form 1098
8b - interest not on Form 1098
8c - points not on Form 1098
The amount of mortgage interest you entered may be limited. Look at your Home Mortgage Interest Worksheet to see how the amounts were calculated. And the links explain what qualifies as deductible home mortgage interest and points. @pocho15
In addition to itemizing, these conditions must be met for mortgage interest to be deductible:
- The loan is secured, which means the lender has some kind of guarantee of payment, usually in the form of property. If a borrower defaults on payments, the lender can seize the property that’s securing the loan. If you’re buying or refinancing a home, especially if it’s your first home, the loan is usually secured by the home you’re buying or refinancing
- The home with the secured loan must have sleeping, cooking, and toilet facilities
- The debt can’t exceed $750,000 (or $1,000,000 if the loan was taken before December 16, 2017) to get the full deduction
- You or someone on your tax return must have signed or co-signed the loan
- If you rented out the home, you must have used the home more than 14 days during the tax year or 10% of the number of days you rented it out, whichever is greater
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