Mortgage interest deduction


 

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Mortgage interest deduction

In the US, an allowable federal tax deduction for the annual interest paid on a mortgage.

Mortgage interest deduction

A federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a residence.



Mortgage interest deduction

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Specific deductions allowed by the IRS outlined in the tax return.


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A tax deduction that allow spouses to transfer unlimited amounts of property to one another.


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An interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes.


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The IRS-specified amount by which a taxpayer is entitled to reduce income an alternative to itemizing deductions.


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