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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?

 

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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