Document Type
News Article
Publication Date
12-31-2010
Abstract
The deduction of home mortgage interest is one of the most valuable and hotly debated benefits provided in the tax code to individuals. Since 1987, the code has restricted the interest deduction based on the amount of home mortgage debt the taxpayer has incurred, and the reasons for the debt. In a recent ruling, however, the Internal Revenue Service announced it would not follow a court ruling that limited the amount of deductible home mortgage interest — noteworthy because this time the IRS ruled in the taxpayer's favor.
Recommended Citation
Stanley, Kimberly, "IRS Breaks With Tax Court on Deduction Limits" (2010). Publications. 169.
https://digitalcommons.law.ggu.edu/pubs/169
Comments
Posted with permission of The Recorder.