• COOPER, MOSS, RESNICK, KLEIN & Co
    Certified Public Accountants
    15165 Ventura Boulevard, Suite 330
    Sherman Oaks, CA 91403
  • Phone: (818) 728-9868
    Fax: (818) 728-9822
    Email us here.
    admin@cmrkcpa.com

TCJA Series: Home Mortgage Interest Deduction Under the New Tax Law

Dear Client: Next in our series detailing changes resulting from the Tax Cuts and Jobs Act (TCJA), new rules for deducting home mortgage interest: Deductibility of interest on “acquisition debt.”  Taxpayers may deduct interest on mortgage debt that is “acquisition debt.” Acquisition debt means debt that is: (1) secured by the taxpayer’s principal home and/or […]

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Home Mortgage and Home Equity Loan Interest Under New Law

Dear Friends: Under pre-Act law, a taxpayer could deduct as an itemized deduction qualified residence interest, which included interest paid on a mortgage secured by a principal residence or a second residence. The underlying mortgage loans could represent acquisition indebtedness of up to $1 million ($500,000 in the case of a married individual filing a […]

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