ERC Associates PLLC
Scytheville Row, 75 Newport Rd -
PO Box 1726
New London, NH 03257-1726
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Ph: 603/526-7777
ed@erctax.com
Acquisition Indebtedness
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.
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