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Mortgage Interest Limitation Worksheet Excel  Form

Mortgage Interest Limitation Worksheet Excel Form

Use a Mortgage Interest Limitation Worksheet Excel template to make your document workflow more streamlined.

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Instructions and help about Mortgage Interest Limitation Worksheet Excel

welcome to county office your ultimate guide to local government services and public records let's get started what is the mortgage interest deduction limit the mortgage interest deduction is a tax benefit for homeowners it allows them to deduct interest paid on their mortgage from their taxable income this can lower the amount of taxes owed the limit on the mortgage interest deduction depends on when the mortgage was taken out for mortgages taken out after December 15 2017 the limit is lower you can deduct interest on up to $750,000 of Mortgage Debt for mortgages taken out before December 15 2017 the limit is higher homeowners can deduct interest on up to $1 million of Mortgage Debt these limits apply to both single and married filing jointly taxpayers the mortgage interest deduction applies to both primary and secondary homes however the total combined Mortgage Debt must not exceed the applicable limit home equity loans and lines of credit may also qualify for the deduction t

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