Your mortgage interest deduction could be limited by the amount of your mortgage balance. If you purchased your home after December 16, 2017, you can only deduct the portion of your mortgage interest that applied to the first $750,000 of your mortgage. The limit is $1 million if you purchased it before that. You have to take 50% of those limits if you are filing married-separate.
Also, if any of your mortgage was used for purposes besides improvements or the purchase of your house, that portion is not deductible. Also, if you have a home office a portion of your mortgage interest may be deducted on your business schedule C, the same applies if you rent out a portion of your home, part of the deduction will show on your rental schedule E.
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