$750K Mortgage Interest Limit
Is it per taxpayer or per loan? I have a brother and sister that decided to buy a primary home together in 2022. The loan on that house is for $1.5Million. They are both on the title and loan. Do we apply the $750K limit to the $1.5M, then take that remaining interest and split it between them? Or does each taxpayer get to apply the $750K limit to that $1.5M loan (in this case the interest is not limited, whatever interest was paid in 2022 gets split 50/50)?
