For mortgages established , you can deduct interest on up to $1 million of mortgage debt ($500,000 if married filing separately).
For homeowners who purchased or owned a residence in 2017, several federal tax breaks were available to reduce taxable income or provide direct credits. tax break for buying a house 2017
To claim these, you generally must itemize deductions on Schedule A (Form 1040) rather than taking the standard deduction. : For mortgages established , you can deduct interest