Allowable Mortgage Interest
This is a short hack I threw together in a couple days to show the difference between the Simple
and Exact Methods of computing allowable mortgage interest. It's not
very polished because I know
Minimal error checking is done. Garbage in yields garbage out.
Because I do not update Days it will only use a partial year if Days are less than 365.
- Equity is not considered.
- Grandfather debt is not considered.
- Calculations are afforded qualified loan limits of $1.1M or $550K for MFS.
- Required fields are Average and Interest.
- If Average is missing it will check Start and End to compute Average;
- If either of those are missing it will check Days assuming the loan was taken
out/paid off during the year to compute Average
- If both are missing it will divide Interest by the Rate.
Friday, 22 December 2017 Michael J. Chappell Contact me at: