Printable Form 2026

IRS Form 14900 – IRS Forms, Instructions, Pubs 2026

IRS Form 14900 – IRS Forms, Instructions, Pubs 2026 – The Tax Cuts and Jobs Act (TCJA) of 2017 significantly changed the rules for deducting home mortgage interest. For tax years beginning after December 31, 2017 (including 2025 returns filed in 2026), most homeowners must use IRS Form 14900 (Worksheet for Qualified Loan Limit and Deductible Home Mortgage Interest) to determine exactly how much of their mortgage interest qualifies as an itemized deduction on Schedule A (Form 1040 or 1040-SR).

This free IRS worksheet helps you navigate the new $750,000 limit on home acquisition debt while protecting higher limits for “grandfathered” pre-2018 debt. Whether you have one mortgage, multiple homes, refinanced loans, or a mix of old and new debt, Form 14900 ensures accurate calculations.

Download the latest Form 14900 (Rev. July 2020) directly from the IRS: https://www.irs.gov/pub/irs-pdf/f14900.pdf.

Why Form 14900 Matters in 2025 and Beyond?

Before 2018, you could generally deduct interest on up to $1 million of mortgage debt ($500,000 if married filing separately). The TCJA lowered the cap to $750,000 ($375,000 if married filing separately) for debt incurred after December 15, 2017—but preserved the higher $1 million limit for older “grandfathered” debt.

If your total mortgage balances exceed these limits—or if you have both pre- and post-2017 debt—Form 14900 prorates your interest deduction. Without it, you risk over- or under-claiming on your return.

Note: Home equity loans or HELOCs only qualify if proceeds are used to buy, build, or substantially improve the home that secures the loan. Mortgage insurance premiums are no longer deductible.

(Visuals above illustrate the real-world impact of TCJA limits on mortgage interest deductions over time.)

Who Needs to Complete IRS Form 14900?

Use the worksheet if any of these apply:

  • You have home acquisition debt incurred after December 15, 2017.
  • Total average mortgage balances on your main and second homes exceed $750,000 ($375,000 MFS).
  • You have a mix of grandfathered debt (pre-Oct 13, 1987) and newer loans.
  • You refinanced or have multiple qualified homes.

If all your debt is pre-December 16, 2017 and totals $1 million or less ($500,000 MFS), you can often skip the worksheet—all interest is deductible (subject to other rules).

The form is for your records only. You do not attach it to your return unless the IRS specifically requests it (e.g., during an audit).

Key Definitions (Straight from IRS Pub 936 & Form 14900)

  • Qualified home: Your main home or one second home (house, condo, co-op, mobile home, boat with sleeping/cooking/toilet facilities).
  • Home acquisition debt: Loans used to buy, build, or substantially improve the qualified home securing the loan.
  • Grandfathered debt: Mortgages you had on qualified homes on or before October 13, 1987 (including refinances that don’t exceed the original principal).
  • Average balance: Usually the average of the first and last day of the year (or other IRS-approved methods—see Form 14900 instructions or Pub 936).

Qualified Loan Limits at a Glance (2025 Rules)

Debt Type Limit (Single / Joint) Limit (Married Filing Separately)
All pre-Dec 16, 2017 (grandfathered + acquisition) $1,000,000 $500,000
Post-Dec 15, 2017 acquisition debt (combined with any grandfathered) $750,000 $375,000

The worksheet automatically applies the correct combined limit.

Step-by-Step: How to Fill Out IRS Form 14900?

Part I – Qualified Loan Limit (calculates your maximum deductible debt)

  1. Line 1: Average balance of all grandfathered debt.
  2. Line 2: Average balance of pre-Dec 16, 2017 home acquisition debt.
  3. Line 3: $1,000,000 ($500,000 MFS).
  4. Line 4: Larger of line 1 or 3.
  5. Line 5: Line 1 + line 2.
  6. Line 6: Smaller of line 4 or 5.
    → If no post-2017 debt or line 6 ≥ $750,000 ($375k MFS), this is your qualified loan limit. Enter on line 11 and skip to Part II.
  7. Line 7: Average balance of post-Dec 15, 2017 home acquisition debt.
  8. Line 8: $750,000 ($375,000 MFS).
  9. Line 9: Larger of line 6 or 8.
  10. Line 10: Line 6 + line 7.
  11. Line 11: Smaller of line 9 or 10 → This is your qualified loan limit.

Part II – Deductible Home Mortgage Interest

  1. Line 12: Total average balances of all mortgages (lines 1 + 2 + 7).
  2. Line 13: Total interest paid on those loans (from Form 1098 + any unreported interest; exclude points and mortgage insurance).
    • If line 11 ≥ line 12 → All interest on line 13 is deductible. Stop here.
  3. Line 14: Line 11 ÷ line 12 (round to 3 decimal places).
  4. Line 15: Line 13 × line 14 → Deductible home mortgage interest. Enter on Schedule A, line 8a (or 8b/8c as applicable).
  5. Line 16: Line 13 – line 15 → Nondeductible personal interest (not deductible on your return).

Pro tip: Use the average-balance methods in the Form 14900 instructions (beginning/end of year, interest-divided-by-rate, or monthly statements).

Where to Report the Result on Your Tax Return?

Enter the amount from line 15 on:

  • Schedule A (Form 1040), line 8a (home mortgage interest and points reported on Form 1098), or
  • Line 8b (not reported on Form 1098), or
  • Line 8c (points not on Form 1098).

(Above: Schedule A shows exactly where mortgage interest goes under “Interest You Paid.”)

Common Scenarios & Tips

  • Refinancing: Pre-2018 debt refinanced after 2017 keeps the higher limit up to the old principal balance (if used for acquisition/improvement).
  • Multiple homes: Limits apply to the combined debt on your main home + one second home.
  • Mixed-use mortgages: Allocate portions properly (acquisition vs. other).
  • Binding contract exception: Debt under a written contract before Dec 15, 2017 (with specific closing/purchase dates) qualifies for the $1M limit.

Always keep records of loan origination dates, use of proceeds, and average-balance calculations.

  • Publication 936 (2025) – Home Mortgage Interest Deduction (full details and examples): irs.gov/publications/p936.
  • Form 1098 from your lender (shows interest paid).
  • IRS.gov keyword search: “home mortgage interest deduction.”

Form 14900 remains the authoritative worksheet for accurately claiming your deductible home mortgage interest under current law. Save the PDF, follow the step-by-step lines above, and maximize your legitimate deduction—while staying fully compliant.

For personalized advice, consult a tax professional or use IRS Free File tools. Tax rules can have nuances based on your specific situation.

Last updated for 2025 tax year. Always verify with the latest IRS publications.