In 2018, Richie Rominey purchases a new $4.3 million qualified principal residence in Palo Alto, California using a mortgage loan of $3 million.Richie's mortgage interest deduction may be limited.

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Starting in 2018, mortgage interest deductions are limited to interest paid on the first $750,000 of debt for newly purchased homes. Since Richie's mortgage loan is for $3 million, only a portion of his mortgage interest may be deductible.

In 2018, Richie Rominey Purchases a New $4