What Doesn't Qualify for the Deduction

To claim the mortgage interest deduction, you'll need to complete Form 1040, Schedule A, ""Itemized Deductions,"" during your federal income tax filing. You must provide specific information about your mortgage, including the loan amount, interest rate, and the amount of interest paid during the year. More data here https://tradeprofinances.com/mortgage/is-mortgage-interest-tax-deductible-in-california/ 2. **California AGI:** Your California AGI is based on your federal AGI. Therefore, the reduced federal AGI due to the mortgage interest deduction also reduces your California AGI. During the tax year, you paid the following interest amounts: "

Other Tax Benefits for Homeowners in California

* **Home equity loan**: A loan secured by your home's equity that allows you to borrow money for various purposes, such as renovations, education, or debt consolidation.