Loan Tax Deduction Estimator

Loan Tax Deduction Estimator (U.S. Federal Focus)

This tool provides ESTIMATES based on general U.S. Federal tax rules for a recent tax year (e.g., 2023/2024). It is NOT tax advice. Tax laws change; always consult IRS publications and a tax professional.

Your Tax & Loan Details

Filing Status:

Your Modified Adjusted Gross Income (MAGI) ($):

MAGI is AGI with certain deductions added back. Crucial for some deduction phase-outs.

Home Mortgage Interest (Itemized Deduction)

Total Mortgage Interest Paid in Tax Year ($):

Total Mortgage Debt Principal Balance ($) (Sum for all qualified homes):

Was the mortgage debt incurred (loan taken out) AFTER December 15, 2017?

This affects the home acquisition debt limit for the interest deduction.

Student Loan Interest (Above-the-line Deduction)

Total Student Loan Interest Paid in Tax Year ($):