You're Buying (or Selling) a Home Homeowners were able to deduct the interest paid on mortgages of up to $1,000,000, or $500,000 for married taxpayers filing separately, before the TCJA was passed. But anyone who takes out a mortgage between Dec. 15, 2017 and Dec. 31, 2025 is onl...
This was also the case for homeowners who deducted their mortgage interest in both years. Their refunds dropped an average of 11.8 percent. But their tax liability also dropped on average by 28.3 percent. The benefit of lower overall taxes showed up in their paycheck instead of their refund. ...