clipped from: harborfi.typepad.com If you're a homeowner, then you'll want to be sure you're getting the full mortgage-interest tax break. You can usually deduct the interest you pay on a mortgage for your main home or a second home.
The interest on your home mortgage may be fully deductible as an itemized deduction. There is no dollar limit on the amount of interest you can deduct annually, but there are limits on the size of the mortgage on which the interest is claimed. The mortgage interest rules applies to both fixed and adjustable rate mortgages.
You can use the Free Tax Estimator provided by Turbo Tax Online to figure out your Mortgage Interest Deduction. Prepare and file your taxes with Turbo Tax Online and get all the deductions and credits you deserve!