Where in the US Master’s Tax Guide/IRC does it discuss deducting home mortgage interest and property taxes?

May 9th, 2010 | by admin |

Are there any max incomes that do not allow you to deduct these? I’ve searched the CCH database and have not had much luck.

Also, is it important to note Sec. 163(h)(3)(E) [Which talks about mortgage insurance premiums] to a client that makes over 250,000 a year?

Thanks for the help

Deductions may be limited if someone is subject to ATM (alternative minimum tax). I am no expert on high income, but you might look that up, and see the following.

Mortgage interest info http://www.irs.gov/publications/p936/ar02.html

Info about deductible taxes http://www.irs.gov/taxtopics/tc503.html

Tax info for homeowners http://www.irs.gov/publications/p530/index.html

  1. 2 Responses to “Where in the US Master’s Tax Guide/IRC does it discuss deducting home mortgage interest and property taxes?”

  2. By tro on May 9, 2010 | Reply

    CCH discusses mortgage interest and there are limitations to the amount of interest depending on the type of mortgage
    also there are limitations to your itemized deductions when your income goes over the minimum limitation
    check the index for the topics you seek
    References :

  3. By efflandt on May 9, 2010 | Reply

    Deductions may be limited if someone is subject to ATM (alternative minimum tax). I am no expert on high income, but you might look that up, and see the following.

    Mortgage interest info http://www.irs.gov/publications/p936/ar02.html

    Info about deductible taxes http://www.irs.gov/taxtopics/tc503.html

    Tax info for homeowners http://www.irs.gov/publications/p530/index.html
    References :

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