The deduction standard for individual tax loans is that the loan interest is actually deducted in the current year according to the standard amount of 1 000 yuan per month, and the longest deduction period is no more than 240 months. Taxpayers can only enjoy the interest deduction of the first home loan once. The condition of individual tax loan deduction is that taxpayers or their spouses must own a house and use commercial loans or provident fund loans alone or jointly to purchase houses for themselves or their spouses in China. In addition, the house purchased by the loan must belong to the first house, and the loan still needs to be repaid. The mortgage loan is still in the year when the loan interest actually occurs, and the housing loan interest expense cannot be deducted at the same time as the housing rent special deduction. In other words, if you want to use a mortgage to deduct a tax, you can only choose one.

Deduction method:

1. Single purchase or * * * purchase together: both husband and wife agree that they can choose to deduct from one of them;

2. Purchase separately before marriage: you can choose one house after marriage, which will be deducted by the lender at a monthly rate of 1 000 yuan; Or deducted by both husband and wife from their respective housing loan interest expenses according to the monthly 500 yuan.

The month when the loan contract stipulates repayment to the month when the loan is fully paid off or the loan contract is terminated.

The maximum deduction period of housing loan interest shall not exceed 240 months.

legal ground

Interim Measures for Special Additional Deduction of Individual Income Tax

Article 14 If taxpayers or their spouses use individual housing loans from commercial banks or housing accumulation funds alone or jointly to buy houses for themselves or their spouses in China, the interest expenses incurred from the first housing loan shall be deducted according to the standard quota of RMB 1 000 per month in the year when the loan interest actually occurred, and the maximum deduction period shall not exceed 240 months. Taxpayers can only enjoy a first home loan interest deduction. The term "first home loan" as mentioned in these Measures refers to the housing loan that enjoys the interest rate of the first home loan when buying a house.

Fifteenth agreed by both husband and wife, can choose to be deducted by one of them, the specific method of deduction shall not be changed within a tax year. For the first set of housing loans that occur when the husband and wife buy houses separately before marriage, they can choose to buy 1 house after marriage, and the buyer will deduct it according to the deduction standard of 100%, or the husband and wife will deduct it according to the deduction standard of 50%, and the specific deduction method cannot be changed within one tax year.