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For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home...

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Accounting

For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home equity indebtedness incurred during a year:

For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home equity indebtedness incurred during a year:

Is only deductible when used to buy, build, or substantially improve the taxpayer's home that secures the loan.

Must exceed the taxpayer's net equity in the residence.

Includes acquisition indebtedness secured by a qualified residence.

May exceed the fair market value of the residence.

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