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Itemized Deductions Schedule-A


 
 
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Old 04-11-2007, 07:50 AM
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Join Date: Apr 2007
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Home Equity Loan

My understanding is you can only claim for interest on a home equity loan amount up to $100,000. What if my load is $170,000, how do we pro-rate the interest so i can deduct the first $100K? I received form 1098 for both primary and home equity loan.



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