MarilynG1
Expert Alumni

State tax filing

The state of California does not conform to the new federal law that limits taxpayers to the interest on $750,000 ($375,000 for married filing separate) of home mortgage acquisition debt.

 

California allows taxpayers to deduct interest on loans up to $1,000,000 ($500,000 for married filing separate). 

 

The loans originated on or after December 15th 2017 don't need adjustment.

 

Click this link for more detailed info on California Home Mortgage Interest Deduction

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