With the new tax laws for mortage interest deduction; what is going to be the limit on this deduction if the house was over the 750,000 threshold.

[tagteam · Accepted solution]

The value of your house does not have any impact on the deductible amount of mortgage interest; it is the amount of indebtedness (and when it was incurred) that is relevant.

See, generally https://www.irs.gov/pub/irs-pdf/p936.pdf

[NCperson]

@mike_akane - the $750,000 threshhold is based on the mortgage amount and not based on the sales price of the home.