Home Mortgage and Equity Loan Interest Deduction Limitations

By | September 1, 2016|Categories: Taxing Thoughts|Tags: , , , , , |

By Jennie Tieu (Senior Manager, Green Hasson Janks) Most taxpayers are aware that the mortgage interest deduction is limited to $1 million of acquisition indebtedness and $100,000 of home equity indebtedness on a qualified residence. These limitations apply to a single taxpayer or married taxpayers who jointly file their tax return. In the case of a [...]