2764759
You'll need to sign in or create an account to connect with an expert.
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
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
@mike_akane - the $750,000 threshhold is based on the mortgage amount and not based on the sales price of the home.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
phillips_lp
New Member
steve701
New Member
Jenlynnsmith85
New Member
papamikeb427
New Member
user17515687217
New Member