One of the most confusing tax breaks for taxpayers is the mortgage interest tax deduction. If you were one of the many taxpayers this year that were eligible to deduct mortgage interest but did not, you left a lot of money on the table by overpaying your taxes. It is important to know who is and who is not eligible for the mortgage interest tax deduction, so that you can save yourself some money or stay out of trouble with the IRS for a claimed deduction that you do not qualify for.

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