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Publication 936 (2016), Home Mortgage Interest Deduction
If your home mortgage interest deduction is limited under the rules explained in Part II , but all or part of the mortgage proceeds were used for business, investment, or other deductible activities, see Table 2 near the end of this publication. It shows where to deduct the part of your excess interest that is for those activities. The Table 1...
Related topics : home equity interest deduction limit / home equity interest deduction / debt consolidation home mortgage loan / home mortgage consolidation loan / interest home equity loan deductible
Publication 970 (2015), Tax Benefits for Education
ocan't be from a related person or made under a qualified employer plan.
oenrolled at least half-time in a program leading to a degree, certificate, or other recognized educational credential at an...
Home Foreclosure and Debt Cancellation - irs.gov
Home Foreclosure and Debt Cancellation
Update Jan. 5, 2015 -- The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief.
This provision applies to debt forgiven in...
Tax Topics - Topic 456 Student Loan Interest Deduction
for Tax Pros
Topic 456 - Student Loan Interest Deduction
Student loan interest is interest you paid during the year on a qualified student loan. It includes both required and voluntarily pre-paid interest payments. You may deduct the lesser of $2,500 or the amount of interest you actually paid during the year. The deduction ...