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coco32143
April 15, 2023
Question

How do I find the fair market value of my home for my deductible home mortgage interest worksheet?

  • April 15, 2023
  • 1 reply
  • 0 views
why does it want me to enter this?

    1 reply

    J
    JohnW152
    April 17, 2023

    If you have a recent appraisal for your home, that would work. 

     

    Otherwise, for these purposes, you can reasonably use an average of a few fair market values for your home as reflected on various home realty sales sites online.   

     

    You're being asked for this because your home mortgage interest deduction on Schedule A may be limited when your home loan amount exceeds the fair market value of your home.  See the IRS' Publication 936, Home Mortgage Interest Deduction for more information.

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