[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-3093":3},{"rec_id":4,"title":5,"text":6},"3093","Mortgage Interest","Menu Path: \u003Ci>Deductions/Credits > Itemized Deductions > Homeowner Expenses (1098)\u003C/i>\n\u003Cbr>\u003Cbr>\nInterest is deductible on a loan(s) of up to $750,000 ($375,000 if married and filing separately) that is used to acquire, construct or improve your principal residence and a second residence. The tax deduction is taken on \u003Ci>Schedule A\u003C/i> as an itemized deduction. Your primary home or second home can be a house, condo, RV, boat, or camper as long as it has cooking, toilet, and sleeping facilities.\u003Cbr>\u003Cbr>\nTo deduct mortgage interest or home equity interest, the loan must be secured by your main home or second home.\u003Cbr>\u003Cbr> \nIf you own a rental home or investment home, you can deduct the mortgage interest for that home as part of the rental home expenses or as investment interest even if it is a third home or more.\u003Cbr>\u003Cbr> \nMortgage interest on a home construction loan is deductible from the time construction begins. If construction of your home takes longer than 24 months, then any mortgage interest after 24 months is no longer deductible until your home is completed.\n\u003Cbr>\u003Cbr>\nIf you are an unmarried co-owner of a residence, the $750,000 limit applies to each taxpayer separately.\n\u003Cbr>\u003Cbr>\nIf you qualify for the \u003Ca href=\"/freefile2025/answers?faq=8036\">Mortgage Interest Credit\u003C/a>, you would also enter your mortgage interest here:\n\u003Cbr>\nMenu Path: \u003Ci>Deductions/Credits > Other Deductions/Credits > Mortgage Credit Certificate (MCC)\u003C/i>",1777391552652]