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Deductions & credits
It may have been limited if the mortgage loan exceeds $750,000 ( $375,000 if married filing separate) and if your mortgage was originated after 2017. You are only allowed to claim interest for the first $750,000 of the loan balance.
Before 2017, IRS allowed a mortgage interest for up to $1M in loan balance but reduced with advent of the TCJA legislation in 2017.
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‎April 13, 2023
6:13 PM