Taxpayer Information:

Tax Year:	Taxpayer's Name:
Filing Status: Single MFJ MFS HOH Widow(er)

Instructions:
Complete a worksheet tab for all home-secured mortgages to determine the amount of interest paid that is deductible on Schedule A.
Only include mortgages that are:

• fully secured by your main home or a second home.
• the taxpayer (or spouse) is an owner of the home
• home not used for a home office, any rental or business

Do not use this worksheet if:

• all mortgages are only for acquisition debt and the average total monthly balance is less than or equal to $750,000; all interest is deductible
• all mortgages have an origination date prior to October 14, 1987 and have not been refinanced since that date and the average total monthly balance for the year is less than or equal to $1,000,000; all interest is deductible
• any mortgage that has been refinanced more than once. It is beyond the scope of this worksheet.

But DO use this worksheet if either:

• Average monthly balance of all home acquisition debt incurred before 12/16/2017 is greater than $1,000,000 (or $500,000 MFS).
• Average monthly balance of all home acquisition debt incured on or after 12/16/2017 is greater than $750,000 (or $375,000 MFS).

Acquisition debt - the amount taken to buy, build, or substantially improve a qualified home (your main or second home) and secured by that home. This can include a home that was purchased 90 days before or after the loan date and any cost to build or substantially improve the home within 24 months before the date of the mortgage. The deduction will be limited if the average monthly balance exeeds certain amounts.

Grandfathered debt - the amount of a mortgage prior to October 14, 1987 secured by a qualified home. Interest on this mortgage is fully deductible for the duration of the term of the original loan, regardless of use, even if refinanced after that date. The deduction will be limited if the average monthly balance is $1,000,000 or more.

Home equity debt - the amount of a mortgage secured by a qualified home but not used to build or substantially improve the home. Such amount might have been used to purchase a car or pay credit card debt, for example. The deduction will be limited due to home equity debt unless grandfathered.

Substantial improvement - An improvement is substantial if it adds to the value of your home, prolongs your home's useful life, or adapts your home to new uses.

Mortgage Information:

Mortgage lender:	Delete
Mortgage date:
Mortgage term length:	years.
Mortgage type:	New or original mortgage Refinance of an earlier mortgage
	Date of earlier mortgage:    Term length of earlier mortgage:    years Initial amount of earlier mortgage: $ Amount that was home equity debt: $ Balance of earlier mortgage when refinanced: $ Remaining home equity debt when refinanced: $
New mortgage inital amount:	$
Home equity debt amount:	$ (Enter additional home equity debt amount when refinanced) (Enter amount "cashed-out" on )
Debt classification:	Acquisition debt amount: 0 Grandfathered debt amount: 0 Grandfathered acquisition debt amount: 0 Grandfathered home equity debt amount: 0 Home equity debt amount: 0
Interest paid this tax year:	$ (Fully deductible unless debt limit is exceed)
Points paid this tax year:	$ (Fully deductible unless debt limit is exceed)
Mort insurance premiums:	$ (Deduction may be limited by AGI)
Balance as of :	$

Worksheet summary for all mortgages: