Real Estate (Taxes, Mortgage Interest, Points, Other Property Expenses)

You may deduct home equity debt interest as an itemized deduction, if all the following conditions apply:

You are legally liable to pay the interest
You pay the interest in the tax year
The debt is secured with your home
The home equity debt is limited to the fair market value of the home reduced by home acquisition debt, up to a total of $100,000 ($50,000 if filing as married filing separately).

Category: Itemized Deductions, Standard Deductions
Subcategory: Real Estate (Taxes, Mortgage Interest, Points, Other Property Expenses)

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The OMB number for this study is 1545-1432.
If you have any comments regarding this study, please write to:

IRS, Tax Products Coordinating Committee

SE:W:CAR:MP:T:T:SP

1111 Constitution Avenue NW

Washington, DC 20224