Robert and Chris Jones are married and report AGI of $280,000 in 2023. is mortage interest of 20,000 deductible if The mortgage interest can be broken down as follows: $15,000 for their personal residence and $10,000 for their second home. Their Personal residence was purchased in 2019 and had an average mortgage balance of $500,000 for the entire year. The second home was purchased in 2020 and had an average mortgage balance of $150,000 for the entire year. The second home was rented for a total of 14 days and generated revenues of $70,000. It was used personally for 100 days and it was vacant the remainder of the year. The taxpayer uses the IRS method for any expense allocations.

For the tax year 2023, Robert and Chris Jones can potentially deduct mortgage interest on both their personal residence and their second home, subject to certain conditions. **Personal Residence:** The mortgage interest on their personal residence is deductible as long as the mortgage was taken out to buy, build, or substantially improve the taxpayer's home and does not exceed the limit for acquisition indebtedness. For mortgages taken out after December 15, 2017, the limit is $750,000 for married couples filing jointly (or $375,000 for married filing separately). Since their personal residence mortgage balance of $500,000 is below this limit, the $15,000 of mortgage interest they paid is deductible. **Second Home:** The mortgage interest on their second home is also generally deductible, but there are additional considerations since the property was rented out. The IRS allows taxpayers to rent out their property for up to 14 days per year without having to report the rental income (this is sometimes referred to as the "Masters exemption"). Since they rented the second home for exactly 14 days, they do not need to report the $70,000 of rental income. However, because the home was used personally for more than the greater of 14 days or 10% of the total days it was rented (which would be 1.4 days), it is considered a personal residence for tax purposes. Therefore, the mortgage interest can be treated as a personal expense and is deductible, subject

Get your tax questions answered


Main Features

Instant Expert Advice

Get quick and accurate answers to your tax questions from our team of tax experts and artificial intelligence.

Convenient and Easy to Use

Our chatbot interface makes it easy to ask questions and get answers whenever and wherever you want.

Free Tax Question Answers

Our service is 100% risk-free, and our AI will answer all of your tax questions for free.

Fast & Accurate Answers

Our easy to use chatbot or call-in line gets you the help you need in just a few minutes. And our advanced AI makes sure that the answers you need are as accurate as possible.

savings's Call-In Service

You can also get your tax questions answered by calling our phone number 855-724-1040 and speaking directly to our AI assistant on the phone! We understand that sometimes it's easier to ask your questions verbally, and we want to make sure that our service is accessible to everyone. Don't let tax questions stress you out any longer. Call us at 855-724-1040 now and let help you.


Safe and Secure

We always make sure your information is safe by using the latest encryption technology.

Tax Pro Reviews Available

If you want a tax expert to review your answer at a low cost, we can do that for just $5 per question.

100% Satisfaction Guarantee

We're convinced of our service and back it up with a no-questions-asked 100% satisfaction guarantee.

100% Satisfaction Guarantee

Our lightning-fast tax help service is backed by a team of tax professionals who can review all answers for accuracy and completeness. We're so confident in the quality of our service, we offer you a 100% no-questions asked satisfaction guarantee.

If you're not completely satisfied with your tax answer, we'll gladly refund or credit your fee. We stand behind our service. Your satisfaction is our top priority!


Our customers get results


Customer Satisfaction


Questions Answered


Time Saved

What customers are saying is a game-changer for my tax questions. Quick, accurate answers from AI and real tax pros.

Sukhtej Sidhu

Sukhtej Sidhu

Senior Analyst

I was hesitant to try a chatbot for tax advice, but exceeded my expectations.

Lamin Ceesay

Lamin Ceesay


I've recommended to all my colleagues. The convenience and expertise is unmatched.

Philip Kempisty, CPA

Philip Kempisty, CPA


Affordable Tax Help

AI tax answers are 100% free, optional $50 tax pro reviews

Our service is accessible to all with free AI generated tax answers, and prices of just $5 per question if you want an optional tax pro review! Don't let taxes stress you out any longer - let help you today.

AI Answered Tax Questions

100% Free

Get started today with your tax questions for free! No risk, no commitment, just expert tax advice at your fingertips.

  • All AI tax questions answered free
  • No commitment or long-term contract
  • Answers in seconds

Tax Pro Reviewed Answers

Only $50

Affordable, expert tax advice for just $50 per question. Get the answers you need easily with our human-reviewed service.

  • Tax professional reviewed answers
  • Confirming the AI answer accurate
  • Responses with in 24 hours

Our Technology

How does AI work?

Well, imagine a giant brain made up of millions of lines of code. This brain is constantly learning and analyzing vast amounts of tax-related information. When you ask your question, our technology quickly cross-references millions of pieces of tax information to find you the most relevant and up-to-date answer.

And it's even more advanced than that. Our AI technology is able to understand the written language context of your question. It takes into account your specific circumstances and provides you with tailored recommendations incorporated into your answer.

Think of it as having a personal tax expert right at your fingertips, available 24/7 to provide you with the tax information you need. Plus, our system is self-learning and constantly improving, ensuring that you always receive the most accurate advice.

Frequently Asked Questions

We can help with any tax-related question, from personal taxes to small business taxes and even large businesses or estates and trusts tax questions.
Our lightning-fast AI technology ensures that you receive an answer in a matter of minutes. And rest assure that a team of tax professionals review all answers for accuracy and completeness.
Yes! Our prices start at just $50 per question, making it accessible and affordable for anyone seeking tax help.
Yes! We take security very seriously, and all transactions and personal information are fully encrypted and protected.
Yes! We understand the importance of keeping your personal and financial information private. All answers and interactions with our service are fully confidential.

Tax Tips and Tricks Right to Your Inbox

Sign up for our exclusive tax tips and tricks and always get the latest tax strategies, updates, and promotions. Don't miss out on this valuable information that will save you money and time. Tax gold right to your email.

Ready to ask your tax question?

Get started today with your tax questions for free! No risk, no commitment, just expert tax advice at your fingertips.