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Mr. and Mrs. Earwax own a principal residence and a vacation home that are subject to a mortgage that qualifies as acquisition debt. The principal

Mr. and Mrs. Earwax own a principal residence and a vacation home that are subject to a mortgage that qualifies as acquisition debt. The principal residence and vacation home mortgages were incurred before December 15, 2017. Their filing status is married filing jointly Mortgage Interest Paid Average Balance of Mortgage Principal residence $ 42,500 $ 959,800 Vacation home 24,800 353,500 Compute Mr. and Mrs. Earwaxs qualified residence interest.

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