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April 3, 2023
Question

Is $750,000 max for mortgage interest deductibility based on current principal balances, or original loan amounts?

  • April 3, 2023
  • 1 reply
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Is the maximum for mortgage interest deductibility, currently for up to $750,000 in mortgage debt I believe, based on current outstanding mortgage principal (box 2 of Form 1098) or something else like original loan amount?

    1 reply

    CatinaT1
    April 3, 2023

    It is based on current debt.

     

    Deducting Mortgage Interest FAQs

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    April 3, 2023

    Thank you @CatinaT1