Mortgage Interest:TCJA limits themortgage interestdeduction for married couples filing jointly to $750,000 worth of debt. The change expires after 2025.16 Pease Limitation:The law repealed the Pease limitation onitemized deductionsand gradually reduced their value when adjusted gross income exceeds a ce...
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 only able to deduct interest on a mortgage on the first $750,000 under the terms of the Act. This drops to $375,000 for married ...
Mortgage Interest:TCJA limits themortgage interestdeduction for married couples filing jointly to $750,000 worth of debt. The change expires after 2025.16 Pease Limitation:The law repealed the Pease limitation onitemized deductionsand gradually reduced their value when adjusted gross income exceeds a ce...