Report both Mortgage Interest and Points Paid that are reported on Form 1098. If your Mortgage Interest or Points Paid were not reported on Form 1098, skip this section and continue down the screen.
Limitations
Most people can deduct all of their home mortgage interest. However, there are some qualifications you must meet. How much you can deduct depends on
- The date of the mortgage
- The amount of the mortgage
- How you use the mortgage proceeds
Date and Amount:
- Mortgages you took out on or before October 13, 1987 (called grandfathered debt) have no limitations
- Mortgages you (or your spouse if married filing a joint return) took out after October 13, 1987, and prior to December 16, 2017,, but only if throughout 2022 these mortgages plus any grandfathered debt totaled $1 million or less ($500,000 if married filing separately). Total combined mortgages on
your main home and second home. - Mortgages you (or your spouse if married filing a joint return) took out after December 15, 2017, but only if throughout 2022 these mortgages plus any grandfathered debt totaled $750,000 or less ($375,000 or less if married filing separately).Total combined mortgages on your main home and second home.
- To figure your limitation, review Publication 936, Table 1.
How you use the mortgage proceeds:
To buy, build, or substantially improve your home (called home acquisition debt)
I don't have a 1098 Form. Where do I report my Mortgage Certificate?
If you have a Mortgage Certificate to enter, follow this path:
- Federal Section
- Deductions
- Credits Menu
- Mortgage Interest Credit