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Can I deduct 100% of interest paid on my home loan?Navigation: Home > Legal Questions > Can I deduct 100% of interest paid on my home loan?
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For home equity loans, up to $100,000 of such debt qualifies for an interest deduction, or $50,000 for married persons filing separately. However, to qualify for the deduction, the loan must be secured by the residence. If your adjusted gross income exceeds $139,000, however, your mortgage deduction is subject to a 3 percent reduction on your itemized deductions. |
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