Review Of Home Interest Tax Deduction 2014 2022. Single or married declaring separately — $12,550. Married declaring jointly or qualified widow.

So the total interest that is $1,000,000 * 5% = $50,000 will be deducted from the total personal income. Single or married declaring separately — $12,550. If your total property is rented out for the entire year, you can deduct 100% of the mortgage interest paid on that property.




