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Mortgage Interest Loan Maximum for Married Filing Seperately
We're taking out a $400,000 mortgage loan this year, so I understand that we can deduct interest on up to $750,000 if filing jointly but only $375,000 if filing separately. But can deduct interest up to $375,000 for each of us. For example, if filing separately, can we each deduct interest on $200,000 for the $400,000 loan?
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May 3, 2024
7:16 PM