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Use Schedule A to deduct qualified
home mortgage interest and investment
interest.
Line 8
Home Mortgage Interest
If you are a homeowner who
received assistance under a
State Housing Finance Agency
Hardest Hit Fund program or an Emer-
gency Homeowners' Loan program, see
Pub. 530 for the amount you can deduct
on line 8a or 8b.
A home mortgage is any loan that is
secured by your main home or second
home, regardless of how the loan is la-
beled. It includes first and second mort-
gages, home equity loans, and refi-
nanced mortgages.
A home can be a house, condomini-
um, cooperative, mobile home, boat, or
similar property. It must provide basic
living accommodations including sleep-
ing space, toilet, and cooking facilities.
Check the box on line 8 if you had
one or more home mortgages in 2023
with an outstanding balance and you
didn't use all of your home mortgage
proceeds from those loans to buy, build,
or substantially improve your home. In-
terest paid on home mortgage proceeds
used for other purposes isn’t deductible
on lines 8a or 8b.
See Limits on home mortgage inter-
est, later, for more information about
what interest you can include on lines 8a
and 8b.
If you used any home mortgage
proceeds for a business or in-
vestment purpose, interest you
paid that is allocable to those proceeds
may still be deductible as a business or
investment expense elsewhere on your
return.
Limits on home mortgage interest.
Your deduction for home mortgage in-
terest is subject to a number of limits. If
one or more of the following limits ap-
plies, see Pub. 936 to figure your deduc-
tion.
Limit for loan proceeds not used to
buy, build, or substantially improve
your home. You can only deduct home
mortgage interest to the extent that the
loan proceeds from your home mortgage
are used to buy, build, or substantially
improve the home securing the loan
("qualifying debt"). Make sure to check
the box on line 8 if you had one or more
home mortgages in 2023 with an out-
standing balance and you didn't use all
of the loan proceeds to buy, build, or
substantially improve the home. The on-
ly exception to this limit is for loans tak-
en out on or before October 13, 1987;
the loan proceeds for these loans are
treated as having been used to buy,
build, or substantially improve the
home. See Pub. 936 for more informa-
tion about loans taken out on or before
October 13, 1987.
See Pub. 936 to figure your deduction
if you must check the box on line 8.
Limit on loans taken out on or be
fore December 15, 2017. For qualify-
ing debt taken out on or before Decem-
ber 15, 2017, you can only deduct home
mortgage interest on up to $1,000,000
($500,000 if you are married filing sepa-
rately) of that debt. The only exception
is for loans taken out on or before Octo-
ber 13, 1987; see Pub. 936 for more in-
formation about loans taken out on or
before October 13, 1987.
See Pub. 936 to figure your deduction
if you have loans taken out on or before
December 15, 2017, that exceed
$1,000,000 ($500,000 if you are married
filing separately).
Limit on loans taken out after De
cember 15, 2017. For qualifying debt
taken out after December 15, 2017, you
can only deduct home mortgage interest
on up to $750,000 ($375,000 if you are
married filing separately) of that debt. If
you also have qualifying debt subject to
the $1,000,000 limitation discussed un-
der Limit on loans taken out on or be-
fore December 15, 2017, earlier, the
$750,000 limit for debt taken out after
December 15, 2017, is reduced by the
amount of your qualifying debt subject
to the $1,000,000 limit. An exception
exists for certain loans taken out after
December 15, 2017, but before April 1,
2018. If the exception applies, your loan
may be treated in the same manner as a
loan taken out on or before December
15, 2017; see Pub. 936 for more infor-
mation about this exception.
See Pub. 936 to figure your deduction
if you have loans taken out after October
13, 1987, that exceed $750,000
($375,000 if you are married filing sepa-
rately).
Limit when loans exceed the fair
market value of the home. If the total
amount of all mortgages is more than
the fair market value of the home, see
Pub. 936 to figure your deduction.
Line 8a
Enter on line 8a mortgage interest and
points reported to you on Form 1098 un-
less one or more of the limits on home
mortgage interest apply to you. For
more information about these limits, see
Limits on home mortgage interest, earli-
er.
Home mortgage interest limited. If
your home mortgage interest deduction
is limited, see Pub. 936 to figure the
amount of mortgage interest and points
reported to you on Form 1098 that are
deductible. Only enter on line 8a the de-
ductible mortgage interest and points
that were reported to you on Form 1098.
Refund of overpaid interest. If your
Form 1098 shows any refund of over-
paid interest, don't reduce your deduc-
tion by the refund. Instead, see the in-
structions for Schedule 1 (Form 1040),
line 8z.
More than one borrower. If you and
at least one other person (other than
your spouse if you file a joint return)
were liable for and paid interest on a
mortgage that was your home, you can
only deduct your share of the interest.
Shared interest reported on your
Form 1098. If the shared interest was
reported on the Form 1098 you received,
deduct only your share of the interest on
line 8a. Let each of the other borrowers
know what their share is.
Shared interest reported on someone
else's Form 1098. If the shared interest
was reported on the other person's Form
1098, report your share of the interest on
line 8b (as explained in Line 8b, later).
Form 1098 doesn’t show all interest
paid. If you paid more interest to the re-
cipient than is shown on Form 1098, in-
clude the larger deductible amount on
line 8a and explain the difference. If you
are filing a paper return, explain the dif-
ference by attaching a statement to your
paper return and printing “See attached”
to the right of line 8a.
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