Itemized Deductions - Interest Paid

This handout identifies deductible interest expense that is claimed on Schedule A (Form 1040) as an itemized deduction.

HIGHLIGHTS: 

  1. Home mortgage interest.

  2. Grandfathered debt.

  3. Home equity debt.

  4. Acquisition debt.

  5. Reverse mortgages.

  6. Investment interest.


CLIENTS WHO MAY BENEFIT:

  1. Taxpayers who itemize.

  2. Taxpayers who own a home.

  3. Taxpayers who have investment debt.

Individual Income TaxClare FazackerleyTax, Deductions, Itemized Deductions, Interest, Deductible Interest, Schedule A, Mortgage Interest, Deby, Home Equity, Reverse Mortgages, Investment Interest, Homeowners, Investment