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Why is Home Mortgage Interest Worksheet asking me to verify pre-12/15/2017? during final review?

 
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JohnB5677
Expert Alumni

Why is Home Mortgage Interest Worksheet asking me to verify pre-12/15/2017? during final review?

Because 12/15/2017 was the date of a tax law change regarding mortgages.

 

If you bought the house before Dec. 16, 2017, you can deduct the interest you paid during the year on the first $1 million of the mortgage ($500,000 if married filing separately).

 

You can deduct the mortgage interest you paid during the tax year on the first $750,000 of your mortgage debt for your primary home or a second home. If you are married filing separately, the limit drops to $375,000. 

 

IRS Fully Deductible Interest

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