acquisition indebtedness

(i)The term “acquisition indebtedness” means any indebtedness which— (I)is incurred in acquiring, constructing, or substantially improving any qualified residence of the taxpayer, and (II)is secured by such residence. (ii)The aggregate amount treated as acquisition indebtedness for any period shall not exceed $1,000,000 ($500,000 in the case of a married individual filing a separate return). (C)

Source

26 USC § 163(h)(3)(B)(i)


Scoping language

None: Default is title Scope
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