This is the debt used to acquire, build, or substantially improve a taxpayer’s principal residence or a second home, and it is debt that is secured by the principal residence or second home. The interest on up to $1 million of acquisition indebtedness is deductible as an itemized deduction.
Christoff & Associates, LLC • 500 Lake Cook Rd, Suite 350 • Deerfield, IL 60015 Phone: 847.580.4269 • Fax: 888.777.0620
-or- Christoff & Associates, LLC • 188 S. Ash Lane • Whitewater, WI 53190 Phone: 262.458.6300• Fax: 888.777.0620