Interest is the amount someone pays to borrow money. Deductible interest is reported on lines 10 through 14 of Schedule A.
To be deductible, the interest must be paid by the taxpayer during the tax year. Only taxpayers who are legally liable for the debt can deduct the interest.
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Members of the clergy and military can deduct qualified mortgage interest even if they receive a nontaxable housing allowance.
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The only interest deduction covered by the VITA/TCE program is mortgage interest. Any other interest expense that may be deductible is out of scope and should be referred to a professional tax preparer.
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