2. Wizard

Form 14900

(Rev. 7-2020)

Worksheet for Qualified Loan Limit and Deductible Home Mortgage Interest for Tax Years Beginning after 2017

Catalog Number 70235R

This worksheet is normally mailed to a taxpayer under correspondence audit, along with the Initial Contact Letter 566-S and 566-B, to inform the taxpayer how to calculate the correct amount of mortgage interest expense to be deducted on the return. See instructions for completing this worksheet.

Instructions for Form 14900

Important Things You Should Know

  • Only submit this form if you received a letter from the IRS requesting that you complete and submit this form.
  • The average balance for the current year of each mortgage you had for all qualified homes on October 13, 1987 (grandfathered debt). 
  • Including the average balance for the current year of any grandfathered debt that’s part of a mixed-use mortgage.
  • The average balance for the current year of each mortgage you took out on all qualified homes after October 13, 1987, and prior to December 16, 2017, to buy, build, or substantially improve the home (home acquisition debt).
  • The average balance for the current year of each outstanding home mortgage.
  • Including interests on payments to a financial institution, or to a person whose business is making loans, you should receive Form 1098 or a similar statement from the lender.
Privacy and Paper Reduction Act Notice

For Paperwork Reduction Act Notice, see theInstructions for Forms 1040 and 1040-SR

General Information

All fields marked with an asterisk (*) are required.

Please Enter Name of Taxpayer

Please enter last four digits of SSN or TIN

Enter the tax year in question.

Please enter which Campus is listed on the letter you received

Worksheet Information

All fields marked with an asterisk (*) are required.

Figure the average balance for the current year of each mortgage you had for all qualified homes on October 13, 1987 (grandfathered debt). Add the results together and enter the total on line 1. Include the average balance for the current year of any grandfathered debt that’s part of a mixed-use mortgage.

Figure the average balance for the current year of each mortgage you took out on all qualified homes after October 13, 1987, and prior to December 16, 2017, to buy, build, or substantially improve the home (home acquisition debt). If you entered into a written binding contract before December 15, 2017 to close on the purchase of your main home before January 1, 2018, and you purchased this home before April 1, 2018, figure the average balance for the current year for each of these mortgages. Add the results together and enter the total on line 2. Include the average balance for the current year of any home acquisition debt that’s part of a mixed-use mortgage.

Please select filling status

Figure the average balance for the current year of each mortgage you took out on all qualified homes after December 15, 2017 to buy, build or substantially improve the home. Add the average balances together and enter the total on line 7.

Please enter the smaller of line 9 or line 10. 

Figure the average balance for the current year of each outstanding home mortgage. Add the average balances together and enter the total on line 12 on Schedule A (Form 1040 or Form 1040-SR)

If you make payments to a financial institution, or to a person whose business is making loans, you should receive Form 1098 or a similar statement from the lender. This form will show the amount of interest to enter on line 13. Also include any other interest payments made on debts secured by a qualified home for which you did not receive a Form 1098 on line 13. Do not include points or mortgage insurance premiums on this line.

You cannot deduct the amount of interest on line 16 as home mortgage interest. If you didn’t use any of the proceeds of any mortgage included on line 12 of the worksheet for business, investment, or other deductible activities, then all the interest on line 16 is personal interest. Personal interest isn’t deductible.

All fields marked with an asterisk (*) are required.

Review

General Information

General Information

EDIT

Name of taxpayer

N/A

EDIT

Tax Identification Number (last 4 digits)

N/A

EDIT

Year

N/A

EDIT

Which Campus is listed on the letter you received?

N/A

EDIT
Worksheet Information

Qualified Loan Limit

EDIT

1. Enter the average balance of all your grandfathered debt. See instructions

N/A

EDIT

2. Enter the average balance of all your home acquisition debt incurred prior to December 16, 2017. See instructions

N/A

EDIT

Enter Filling Status

N/A

EDIT

Home acquisition debt that incurred after December 15, 2017?

N/A

EDIT

11. Enter the smaller of line 9 or line 10. This is your qualified loan limit

N/A

EDIT

12. Enter the total of the average balances of all mortgages from lines 1, 2 and 7 on all qualified homes. See instructions

N/A

EDIT

Your Form Has Been Submitted

Click here to download a pdf for your records