[20190221]IF11111_2019纳税申报季节（2018纳税年度）：扣除抵押债务和房屋净值贷款利息的示例.pdf

https:/crsreports.congress.gov Updated February 21, 20192019 Tax Filing Season (2018 Tax Year): Examples of Deducting Interest on Mortgage Debt and Home Equity LoansRecent changes to the mortgage interest deduction have created some confusion among homeowners, particularly regarding the treatment of home equity loans. This In Focus explains the current tax treatment of mortgage interest and home equity loans resulting from the enactment of P.L. 115-97, often referred to as “The Tax Cuts and Jobs Act.” Generalized examples are provided to illustrate how certain homeowners may be impacted by these recent changes. Current Law (2018-2025) A taxpayer may claim an itemized deduction for the interest paid on mortgage debt secured by a principal residence or a second home, subject to one of two limits on the amount of mortgage debt that qualifies for the deduction. Which limit is applicable depends on when the debt was incurred. A taxpayer may also deduct the interest on a home equity loan under certain circumstances. For mortgage debt incurred before December 16, 2017, the deduction is limited to the interest on the first $1 million ($500,000 for married filing separately) of combined mo