Publication 936 - Home Mortgage Interest Deduction - Department Of Treasury - 2008
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16Publication 936
Contents
Cat. No. 10426G
What’s New . . . . . . . . . . . . . . . . . . . . . 1
Home
Department
of the
Reminders . . . . . . . . . . . . . . . . . . . . . . 1
Treasury
Introduction . . . . . . . . . . . . . . . . . . . . . 1
Mortgage
Internal
Part I. Home Mortgage Interest . . . . . . . 2
Revenue
Secured Debt . . . . . . . . . . . . . . . . . . 2
Service
Interest
Qualified Home . . . . . . . . . . . . . . . . . 2
Special Situations . . . . . . . . . . . . . . . 4
Points . . . . . . . . . . . . . . . . . . . . . . . 5
Deduction
Mortgage Insurance Premiums . . . . . . . 7
Form 1098, Mortgage Interest
Statement . . . . . . . . . . . . . . . . . 7
How To Report . . . . . . . . . . . . . . . . . 8
Special Rule for Tenant-
Stockholders in Cooperative
For use in preparing
Housing Corporations . . . . . . . . . 8
2008
Part II. Limits on Home Mortgage
Returns
Interest Deduction . . . . . . . . . . . . . 8
Home Acquisition Debt . . . . . . . . . . . . 8
Home Equity Debt . . . . . . . . . . . . . . . 9
Grandfathered Debt . . . . . . . . . . . . . . 9
Table 1 Instructions . . . . . . . . . . . . . 10
How To Get Tax Help . . . . . . . . . . . . . . 13
Index . . . . . . . . . . . . . . . . . . . . . . . . . . 15
What’s New
Cooperative housing corporation. The defi-
nition of a cooperative housing corporation has
changed. See
Special Rule for Ten-
ant-Stockholders in Cooperative Housing Cor-
porations.
Limit on itemized deductions. Certain item-
ized deductions (including home mortgage inter-
est) are limited if your adjusted gross income is
more than $159,950 ($79,975 if you are married
filing separately). For more information, see the
instructions for Schedule A (Form 1040).
Reminders
Photographs of missing children. The Inter-
nal Revenue Service is a proud partner with the
National Center for Missing and Exploited Chil-
dren. Photographs of missing children selected
by the Center may appear in this publication on
pages that would otherwise be blank. You can
help bring these children home by looking at the
photographs and calling 1-800-THE-LOST
(1-800-843-5678) if you recognize a child.
Introduction
This publication discusses the rules for deduct-
ing home mortgage interest.
Part I contains general information on home
mortgage interest, including points and mort-
Get forms and other information
gage insurance premiums. It also explains how
faster and easier by:
to report deductible interest on your tax return.
Part II explains how your deduction for home
mortgage interest may be limited. It contains
Internet
Table 1, which is a worksheet you can use to
figure the limit on your deduction.
Mar 16, 2009
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