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Home loans
Yes, that is correct. Once your loan balance is at or below the amount that you used to acquire, build, or improve the home the entire amount of interest is considered home acquisition debt and is eligible to be deducted.
It can still be limited if your average mortgage balance exceeds $750,000 or $1 million for homes purchased before December 15, 2017.
‎April 3, 2022
4:46 AM
2,573 Views