Mortgage Interest Expense

Description and Definition of Mortgage Interest Expense

Interest paid on a loan for acquisition indebtedness or home-equity debt secured by your home that is fully deductible up to certain limits. Two residences qualify if acquisition debt secured by the home is $1 million or less, and home equity debt is $100,000 or less.

Resources

See Also

Further Reading

• Mortgage Interest Expense in the West's Tax Law Dictionary
• Mortgage Interest Expense in “A Dictionary of Taxation”