Mortgage Interest Deduction Calculator · §163(h)

Current mortgage balance

Annual mortgage interest paid (Form 1098 box 1)

Year acquisition debt originated

Filing status

Points paid this year (purchase or refi)

Points type

HELOC / 2nd mortgage balance

HELOC use

Annual HELOC interest paid

Loan term (years, for refi points amort.)

Schedule A Picture

Acquisition debt cap

$750,000

Deductible % of mortgage interest

100%

Deductible mortgage interest

Deductible HELOC interest

Points deductible this year

Total Schedule A line 8

Standard deduction 2024 is $14,600 single / $29,200 MFJ. Itemize only if Schedule A total beats the standard.

Have a preparer optimize your Schedule A

2024 figures: $750K acquisition cap for post-12/15/2017 debt per §163(h)(3)(F)(i); $1M pre-2018 grandfathered. MFS halves cap. HELOC interest deductible ONLY if used to buy, build, or substantially improve the home securing the loan per §163(h)(3)(B). Purchase points current-year deductible per §461(g)(2); refi points amortize over loan life. Call 689-331-5723 or email info@zerofusstaxes.com.