This chapter discusses interest. Interest is the amount you pay for the use of borrowed money.
The types of interest you can deduct as itemized deductions on Schedule A (Form 1040) are:
- Home mortgage interest, including certain points, and
- Investment interest.
This chapter explains these deductions. It also explains where to deduct other types of interest and lists some types of interest you cannot deduct.
Use Table 25-1 to find out where to get more information on various types of interest, including investment interest.
Publication
- 936 - Home Mortgage Interest Deduction
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