Topic no. 504, Home mortgage points | Internal Revenue Service
Interest on home equity loans is only deductible if the funds were used to buy, build, or substantially improve the home securing the loan. deductible home buying expenses
: State and local real estate taxes (SALT) are deductible up to a combined total of $40,000 through 2028. Topic no
The Internal Revenue Service (IRS) identifies three major categories of homeownership expenses that you can typically deduct: Topic no. 504
This limit applies to loans taken out after December 15, 2017.
This cap is reduced to $20,000 for those who are married and filing separately.