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Rules for Deducting Home Mortgage Interest

Posted 6:52 PM by

Taxpayers typically know that they can deduct home mortgage interest payments on their tax returns. But there are limits and rules to be followed. For example, only "qualified resident interest" can be deducted, which means:

  1. In order to be able to deduct the interest, the home itself must be used as collateral for the loan.
  2. The home must be a “qualified residence” of the taxpayer. 
  3. The loan must be either “acquisition indebtedness” (debt that is incurred by either purchasing, constructing or substantially improving a qualified residence) or “home equity indebtedness” (any debt that is secured by a qualified residence and is not classified as acquisition indebtedness). 

​To learn more about these and other rules surrounding mortgage interest deductions, visit

About the Author
Ryan Miller is a partner in Katz, Sapper & Miller’s Tax Services Group. Ryan provides consulting services on a variety of technical tax matters, with an emphasis on international tax, oversees tax compliance and handles tax controversies. His experience includes entity taxation, among other areas.

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