Deduct Mortgage Interest on Your Dream Home in 2024

#truelegacywealth #deductions
this video, we explain how the mortgage interest deduction works for non-married couples buying a home. If you're not married and buy your first or second home, you can each claim the interest on $750,000. This means together, you can deduct the interest on $1.5 million.

For married couples, the deduction is only on $750,000 total. So, being unmarried lets you deduct interest on twice as much debt compared to married couples. It might seem unfair, but that's the rule.