HOME MORTGAGE INTEREST HAS BEEN "RESTRICTED"
Updated: Sep 17, 2019
Taxpayers can still deduct interest on mortgage indebtedness. (The debt you incurred when purchasing, building or significantly improving your residence.)
It has been $750,000 our more for mortgage taken out since Dec. 15, 2017.
For older mortgage, $1 MILLION is limited.
Note: Interest on debt that is related to your purchase, construction and improvement is deductible. Every expenses that is not related to this is not deductible.
