Publication 936 - Home Mortgage Interest Deduction - 2003
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Contents
Cat. No. 10426G
Important Reminders . . . . . . . . . . . . . . 1
Department
Home
of the
Introduction . . . . . . . . . . . . . . . . . . . . . 2
Treasury
Mortgage
Internal
Part I. Home Mortgage Interest . . . . . . . 2
Revenue
Secured Debt . . . . . . . . . . . . . . . . . 2
Service
Qualified Home . . . . . . . . . . . . . . . . 2
Interest
Special Situations . . . . . . . . . . . . . . 4
Points . . . . . . . . . . . . . . . . . . . . . . 5
Deduction
Mortgage Interest Statement . . . . . . . 7
How To Report . . . . . . . . . . . . . . . . 7
Special Rule for Tenant-
Stockholders in Cooperative
For use in preparing
Housing Corporations . . . . . . . . . 7
2003
Part II. Limits on Home Mortgage
Returns
Interest Deduction . . . . . . . . . . . . . 8
Home Acquisition Debt . . . . . . . . . . . 8
Home Equity Debt . . . . . . . . . . . . . . 8
Grandfathered Debt . . . . . . . . . . . . . 10
Table 1 Instructions . . . . . . . . . . . . . 10
How To Get Tax Help . . . . . . . . . . . . . . 13
Index . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Important Reminders
Third party designee. You can check the
“Yes” box in the “Third Party Designee” area of
your return to authorize the IRS to discuss your
return with a friend, family member, or any other
person you choose. This allows the IRS to call
the person you identified as your designee to
answer any questions that may arise during the
processing of your return. It also allows your
designee to perform certain actions. See your
income tax package for details.
Personal interest. Personal interest is not de-
ductible. Examples of personal interest include
interest on a loan to purchase an automobile for
personal use and credit card and installment
interest incurred for personal expenses.
But you may be able to deduct interest you
pay on a qualified student loan. For details, see
Publication 970, Tax Benefits for Education.
Limit on itemized deductions. Certain item-
ized deductions (including home mortgage inter-
est) are limited if your adjusted gross income is
more than $139,500 ($69,750 if you are married
filing separately). For more information, see the
instructions for Schedule A (Form 1040).
Photographs of missing children. The Inter-
nal Revenue Service is a proud partner with the
Get forms and other information
National Center for Missing and Exploited Chil-
faster and easier by:
dren. Photographs of missing children selected
by the Center may appear in this publication on
Internet •
FTP •
or
ftp.irs.gov
pages that would otherwise be blank. You can
help bring these children home by looking at the
FAX •
703–368–9694 (from your fax machine)
photographs and calling 1 – 800 – THE – LOST
(1 – 800 – 843 – 5678) if you recognize a child.
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