The current $750,000 limitation was introduced as part of the Tax Cuts and Jobs Act (TCJA) and will revert to the old limitation of $1 million after 2025.

The Act repealed the deduction for interest paid on home equity debt through 12/31/2025. Interest is still deductible on home equity loans (or second mortgages ...

The home mortgage interest deduction (HMID) allows homeowners to deduct mortgage interest paid on up to $750,000 of their loan principal. · The maximum mortgage ... The Mortgage Interest Deduction · Better Way

20 авг. 2024 г. · For tax years 2018 through 2025, no. Interest paid on a loan secured by your main home or second home may be deductible, subject to certain ...

22 окт. 2024 г. · After 2025, the mortgage interest deduction will revert to the law that existed prior to TCJA. Comparison to Prior Law. Under prior law, a ...

1 дек. 2023 г. · The amounts for 2024 and 2025 will probably be slightly less because the interest payments will be lower and the standard deduction higher.

2 нояб. 2023 г. · Unless new legislation is passed, the size of the standard deduction will shrink by half and the amount of debt subject to the MID will revert ...

2 окт. 2024 г. · In Budget 2025, the temporary Mortgage Interest Tax Credit for 2023 was extended to 2024. The qualifying criteria for this credit stays the same ...

23 окт. 2024 г. · For single taxpayers and married individuals filing separately for tax year 2025, the standard deduction rises to $15,000 for 2025, an increase ...

You may then still deduct the interest up to and including 31 December 2025. So in your 2023, 2024 and 2025 tax return. Has your house not yet been sold and is ...