Publication 936, Mortgage Interest Deduction. Introductory Material

Publication 936, Mortgage Interest Deduction. Introductory Material

The 3 groups are the following.

Mortgages you took down (called grandfathered debt).

Mortgages you (or your better half if hitched filing a return that is joint took down (see binding agreement exception below), to purchase, build, or considerably enhance your house (called home acquisition financial obligation), but as long as throughout these mortgages plus any grandfathered debt totaled $1 million or less ($500,000 or less if hitched filing individually). Continue reading “Publication 936, Mortgage Interest Deduction. Introductory Material”