Albert S. Johnson CPA, MBA

Deduction

Albert S Johnson - Palm Springs CPA • Tax Preparation • Resident, Expat and Non-Resident

New Ruling Increases Limit on Home Mortgage Interest Deduction

30/10/10 12:28

Under a new ruling, you may now deduct interest on up to $1.1 million of debt on a personal residence. This adds $100,000 to the previous limit which was $1 million of acquisition debt. The loan proceeds must be used to "acquire, construct of substantially improve" a qualified residence. Read More...

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Palm Springs MBA CPA • Tax Preparation • Resident, Expat and Non-Resident
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