Mortgage Interest Limited Smart Worksheet

Mortgage Interest Limited Smart Worksheet When mortgage interest is limited because the principal amount of the mortgage is over one million dollars or the home equity debt amount is over one-hundred-thousand dollars, use the Deductible Home Mortgage Interest Worksheet to determine the amount to be reported on lines A, B. and C below. QuickZoom to Deductible Home Mortgage Interest Worksheet Does your mortgage interest need to be limited: Yes . In No . . . A Home mortgage interest and points reported on Form 1098: 1 Sum of lines 5a through 5d below 2 Limited amount to report on Sch A. line 10 B Home mortgage interest not reported on Form 1098: 1 Sum of lines 6a and 6b below 2 Limited amount to report on Sch A, line 11 C Points not reported on Form 1098: 1 Sum of lines 7a through 7c below 2 Limited amount to report on Sch A, line 12 EFTA01222147