Mortgage Interest Worksheet

Taxpayer Information:

Tax Year: Taxpayer's Name:
Mortgage Information:
Mortgage provider:
Yes No This mortgage a secured debt on your main or 2nd home.
Yes No The taxpayer is an owner of the home.
Yes No This mortgage is below the maximum allowable debt.
Yes No This mortgage is less than the value of the property.
Yes No This mortgage is the original mortgage used to purchase the home.
Yes No This is the first time you refinanced this home.
Yes No This mortgage was only used to buy, build, or substantially improve the home.
Yes No This mortgage was only used for other reasons other than to buy, build, or substantially improve the home.

In the following table, enter the starting date of of that mortgage. Also enter the amount of the mortgage and the portion attributable to the purchase of or improvement of the home as of the end of the prior year (acquisition debt). The remainder will be "other debt" (to pay off credit cards, medical expenses, vacations, etc). You may include "$" and commas for clarity if you wish.
Mortgage date Total mortgage amount Acquisition debt amount Other purpose debt amount
Mortgage began on 0
Interest paid:
Interest paid in this tax year:
Mortgage Worksheet:
In the table below, enter each end-of-month mortgage balance. The "other purpose" debt is reduced first. If the full mortgage is paid off (mortgage balance = 0) during the year, enter 0 for the month it was paid off. When all yellow boxes have been filled, the result will be shown in the next section.
Mortgage date Total mortgage amount Acquisition debt amount Other purpose debt amount
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Mortgage balance on 1/1 0 0
Average mortgage balance:
Worksheet results:
The interest on this mortgage is fully deductible. The interest on this mortgage is not deductible. OUT OF SCOPE — This interest may be partially deductible but cannot be determined by this calculator.
Please send corrections and suggestions to jeff@bogarthome.net