Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

Is the maximum for mortgage interest deductibility, currently for up to $750,000 in mortgage debt I believe, based on current outstanding mortgage principal (box 2 of Form 1098) or something else like original loan amount?

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It is based on current debt.

Deducting Mortgage Interest FAQs

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been using actual expense method for home office deduction. if change o simplified method, what happens to my original depreciation method if i switch back to actual exp

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Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

Deducting Mortgage Interest FAQs

Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

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Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

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Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

Deducting Mortgage Interest FAQs

Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

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