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Real Estate tiy
Eileen M. Day realtor^
MORTGAGE INTEREST
DEDUCTION
Mortage interest payments on principal and second homes continues to be fully deductible under the latest tax law as long as the debt does not exceed the original cost of the residence plus the cost of improvements. If the bor- rowed funds are used for medical, education, or home improvement expenses, the interest is deductible up to the current MARKET VALUE of the property.
85.6%