Home Mortgage Interest Deduction
Interest paid on home mortgage. Taxpayers may itemize mortgage interest as deductions on their federal tax return but the deduction is limited if proceeds of the loan are not used for purchase or substantial upgrading of the taxpayerÂ’s principal residence.
More information on "Home Mortgage Interest Deduction" is available in the TPC Briefing Book.
From the IRS, more information on "Home Mortgage Interest Deduction" is available here.