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Form 14900: Worksheet for Qualified Loan Limit and Deductible Home Mortgage Interest for Tax Years Beginning after 2017
Internal Revenue Service Form 14900 is a worksheet that calculates the qualified loan limit and deductible home mortgage interest for taxpayers. It uses a $1,000,000 ($500,000 if married filing separately) threshold on line 3.
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IRS Form 14900 - Worksheet for Qualified Loan Limit and Deductible Home Mortgage Interest for Tax Years Beginning after 2017
Internal Revenue Service Form 14900 is a worksheet that calculates the qualified loan limit and deductible home mortgage interest for taxpayers. It uses a $1,000,000 ($500,000 if married filing separately) threshold on line 3.
Risk Radar
Scan points- 1Including points or mortgage insurance premiums on line 13 makes interest nondeductible.
- 2Omitting grandfathered debt from line 1 when calculating the average balance.
- 3Excluding home acquisition debt incurred before Dec 16 2017 from line 2.
- 4Including points or mortgage insurance premiums on line 13, which are not deductible.
- 5Using the wrong $1,000,000 ($500,000 if MFS) threshold on line 3.
Plain English
Form 14900 helps you figure out how much of your mortgage interest you can deduct. It adds up balances of old and new home loans, applies legal limits, and tells you the deductible amount to put on Schedule A. The worksheet runs through two parts to get the final number.
Submission Date
- Filing date: 2024-12-04 22:11:03
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when you need to calculate the qualified loan limit and deductible home mortgage interest for tax years beginning after 2017.
- Do not use it when your filing does not involve home mortgage interest or qualified loan limits.
- Check Form 1040 (or Form 1040‑SR) instead when you are ready to report the deductible interest on your individual income tax return.
Form selector
Use this form or another form?
Calculating deductible home mortgage interest for Schedule A
Schedule A attached to Form 1040 reports the interest calculated on Form 14900
✓ Confirm that the amount from line 15 is entered on Schedule A
Receiving lender statement of interest paid
Form 1098 provides the interest amount needed for line 13 of Form 14900
✓ Verify the interest amount matches Form 1098
Filing a joint return but married filing separately
Married filing separately uses the $500,000 and $375,000 thresholds shown on Form 14900
✓ Ensure the correct thresholds are applied
Deadline or filing window
Not stated in the official source
Checklist
What you need before filling it out
Line 1
Average balance of grandfathered debt · Taxpayer’s mortgage records for debt before Oct 13 1987
Line 2
Average balance of home acquisition debt before Dec 16 2017 · Mortgage statements for loans taken before that date
Line 7
Average balance of home acquisition debt after Dec 15 2017 · Mortgage statements for post‑2017 loans
Line 13
Total interest paid on loans from line 12 · Form 1098 or lender statements
Line 15
Deductible home mortgage interest amount · Calculation from line 13 and line 14
Before you submit
- 1Verify the average balance for grandfathered debt on line 1.
- 2Verify the average balance for pre‑December 15 2017 acquisition debt on line 2.
- 3Enter $1,000,000 (or $500,000 if married filing separately) on line 3.
- 4Enter the larger of line 1 or line 3 on line 4.
- 5Add lines 1 and 2 and enter the total on line 5.
- 6Enter the smaller of line 4 or line 5 on line 6.
- 7If applicable, enter the average balance of post‑December 15 2017 acquisition debt on line 7.
- 8Enter $750,000 (or $375,000 if married filing separately) on line 8.
- 9Enter the larger of line 6 or line 8 on line 9.
- 10Add lines 6 and 7 and enter the total on line 10.
- 11Enter the smaller of line 9 or line 10 on line 11 (qualified loan limit).
- 12Enter the total of average balances from lines 1, 2 and 7 on line 12.
How to file this form
- 1Complete all calculations on Form 14900 and sign the worksheet.
- 2Enter the deductible home mortgage interest from line 15 on Schedule A of Form 1040 or Form 1040‑SR.
- 3Attach Form 14900 to your tax return packet.
- 4Mail the return to the appropriate IRS address or e‑file and retain a copy for your records.
Known limitations
- 1Form 14900 applies only to tax years beginning after 2017.
- 2Interest reported on line 16 cannot be deducted as home mortgage interest.
- 3Points and mortgage insurance premiums must not be included in the interest amount on line 13.
- 4The worksheet only includes mortgages on qualified homes; non‑qualified home mortgages are excluded.
- 5Deductible home mortgage interest calculated on this worksheet is entered on Schedule A of Form 1040 or Form 1040‑SR, so only itemizing taxpayers benefit.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
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Fillable formOpen in Editor->Form 14900 is the July 2020 edition (revision date 07/2020). The source does not indicate a newer version or changes beyond this date.
What changed or needs a fresh check
- Edition date — confirm the form shows July 2020 revision
- Fee — Not stated in the official source
- Mailing address — Not stated in the official source
- Signature — Not stated in the official source
Quick Facts
Downloads
After you file
- 1Keep the completed Form 14900 with your tax records for at least three years.
- 2Retain any Form 1098 or other statements used to determine the interest amount on line 13.
- 3Verify that the deductible amount entered on Schedule A matches the amount on line 15 of the worksheet.
- 4If an error is discovered after filing, submit an amended return using Form 1040‑X and include a corrected Form 14900.
- 5Store the worksheet in a safe place in case the IRS requests it during an audit.
Sources
- SRCForm p.1 — title indicates worksheet is for Tax Years Beginning after 2017.
- SRCForm p.1 — line 3 states $1,000,000 ($500,000 if married filing separately).
- SRCForm p.1 — line 8 states $750,000 ($375,000 if married filing separately).
- SRCForm p.1 — line 13 instruction says do not include points or mortgage insurance premiums.
- SRCForm p.1 — line 16 description says interest on line 16 is not deductible as home mortgage interest.
- SRCForm p.1 — line 12 notes all interest on mortgages included is deductible on Schedule A (Form 1040 or Form 1040‑SR).
- SRCForm p.2 — line 1 defines grandfathered debt as mortgages on qualified homes on October 13 1987.
- SRCForm p.2 — line 2 defines home acquisition debt incurred prior to December 16 2017 and includes contracts before Dec 15 2017 with purchase before April 1 2018.
- SRCForm p.2 — line 7 defines home acquisition debt incurred after December 15 2017.
- SRCForm p.2 — line 12 defines total of average balances of all outstanding home mortgages.
Common confusion points
Do I use $1,000,000 or $500,000 on line 3?
The amount differs based on filing status.
→ Check filing status; if married filing separately, use $500,000.
Can I include points paid on the mortgage in line 13?
Points are expressly excluded from line 13.
→ Ensure only interest from Form 1098 and other qualified interest is added, excluding points.
What happens if line 11 equals line 12?
The worksheet instructs to stop if line 11 is equal to or more than line 12.
→ Confirm you stop and report all interest on Schedule A.
Do I need to report interest from a loan partially used for business on line 16?
Line 16 interest is non‑deductible unless proceeds were used for business, making it personal interest.
→ Separate any business‑related interest onto the appropriate schedule, not line 16.
How do I calculate the decimal on line 14?
Line 14 requires dividing line 11 by line 12 and rounding to three decimal places.
→ Perform the division and round; compare with calculator output.
Should mortgages taken out before October 13 1987 be included?
Only mortgages on or before that date are considered grandfathered debt for line 1.
→ Verify mortgage dates and include only qualifying balances.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 1040‑X – Amended U.S. Individual Income Tax Return, to correct errors on the worksheet.
Questions about IRS Form 14900
What is IRS Form 14900 used for?
Form 14900 helps you figure out how much of your mortgage interest you can deduct. It adds up balances of old and new home loans, applies legal limits, and tells you the deductible amount to put on Schedule A. The worksheet runs through two parts to get the final number.
What information does IRS Form 14900 require?
It gathers the average balances of grandfathered debt (line 1), home acquisition debt before Dec 16 2017 (line 2), home acquisition debt after Dec 15 2017 (line 7), total mortgage balances (line 12) and the interest paid (line 13).
How do I complete IRS Form 14900?
First, complete Part I by entering balances on lines 1‑3, then select the larger of line 1 or line 3 on line 4, add lines 1 and 2 on line 5, and follow the worksheet to determine the qualified loan limit on line 11. Next, in Part II, total mortgage balances on line 12, record interest paid on line 13 (excluding points or mortgage insurance premiums), calculate the deductible portion using lines 14‑15, and report the result on Schedule A. The worksheet must be attached to the tax return.
What happens if IRS Form 14900 is filed incorrectly?
If line 16 is entered incorrectly, the interest is treated as personal interest and is not deductible.
Do I use $1,000,000 or $500,000 on line 3?
The amount differs based on filing status. Check filing status; if married filing separately, use $500,000.
Can I include points paid on the mortgage in line 13?
Points are expressly excluded from line 13. Ensure only interest from Form 1098 and other qualified interest is added, excluding points.
What happens if line 11 equals line 12?
The worksheet instructs to stop if line 11 is equal to or more than line 12. Confirm you stop and report all interest on Schedule A.
Do I need to report interest from a loan partially used for business on line 16?
Line 16 interest is non‑deductible unless proceeds were used for business, making it personal interest. Separate any business‑related interest onto the appropriate schedule, not line 16.
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