Mortgage interest

[jamiejacques]

Due to job relocation, I have sold my house in California (Property in California was purchased in 2007 and sold 07/03/2019 loan balance was 360,000 which was paid off when the house sold) I purchase my new home in the state of Massachussets loan amount 500,000. Do I need to limit my mortgage interest deduction?

[JotikaT2]

No.

Since your debt did not exceed $750,000, you do not need to limit your mortgage interest deduction.  I am assuming you sold your first home before your purchased your home in Massachusetts.

Please see the attached for more details.

Mortgage interest information

[jamiejacques]

Wonderful thank you