Interest Deduction


Definition of "Interest deduction"

JoAnn Martindale real estate agent
JoAnn Martindale, Real Estate Agent RE/MAX Metro

Interest deductible for taxes paid by the taxpayer. It is an itemized deduction on Form (individuals) or Form 1040 (individuals) or Form 1120 (corporations). An example is interest paid on a home mortgage for a first or second home.

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