| Pub. 936, Home Mortgage Interest Deduction |
2005 Tax Year |
Publication 936 - Introductory Material
Personal interest. Personal interest is not deductible. Examples of personal interest include interest on a loan to purchase an automobile for
personal use and credit
card and installment interest incurred for personal expenses.
But you may be able to deduct interest you pay on a qualified student loan. For details, see Publication 970, Tax Benefits
for Education.
Limit on itemized deductions. Certain itemized deductions (including home mortgage interest) are limited if your adjusted gross income is more than $145,950
($72,975 if you are
married filing separately). For more information, see the instructions for Schedule A (Form 1040).
Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. 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.
This publication discusses the rules for deducting home mortgage interest.
Part I contains general information on home mortgage interest, including points. It also explains how to report deductible interest
on
your tax return.
Part II explains how your deduction for home mortgage interest may be limited. It contains Table 1, which is a worksheet you may use
to
figure the limit on your deduction.
Comments and suggestions.
We welcome your comments about this publication and your suggestions for future editions.
You can write to us at the following address:
Internal Revenue Service
Individual Forms and Publications Branch
SE:W:CAR:MP:T:I
1111 Constitution Ave. NW, IR-6406
Washington, DC 20224
We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number,
including the area code, in
your correspondence.
You can email us at
*[email protected]. (The asterisk must be included in the
address.) Please put “ Publications Comment” on the subject line. Although we cannot respond individually to each email, we do appreciate your
feedback and will consider your comments as we revise our tax products.
Tax questions.
If you have a tax question, visit
www.irs.gov or call 1-800-829-1040. We cannot answer tax questions at either
of the addresses listed above.
Ordering forms and publications.
Visit
www.irs.gov/formspubs
to download forms and publications, call 1-800-829-3676, or write to one of the three addresses shown under How To Get Tax Help in the back
of this publication.
Useful Items - You may want to see:
See How To Get Tax Help, near the end of this publication, for information about getting these publications.
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