Towards the a good $280,100 loan, some point is $dos,800 ($280,100 ? 1%), several activities was $5,600 ($280,100000 ? 2%), an such like
- New reasonable market price (FMV) of your own residence, shorter from the acquisition indebtedness, or
- $100,000 ($50,000 to have partnered taxpayers who document independently). 17
The amount of order indebtedness and you may family – collateral indebtedness, the attention on which was deductible, never meet or exceed $step 1,100,100 ($step one,000,000 + $a hundred,000).