The Carvajal Group Blog

What is the allowable tax deduction for home acquisition debt?

December 4th, 2009

When many people purchase a home, they often take out a loan to finance their home purchase. These loans are typically in the form of home acquisition debt.

Fortunately for many home buyers, some of the interest on home acquisition debt may be tax deductible. In most circumstances, taxpayers can deduct the interest on home acquisition debt up to one million dollars as an itemized deduction.

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