To amend the Internal Revenue Code of 1986 to simplify the deduction for points paid with respect to home mortgages.
Home Mortgage Tax Simplification Act of 2004 - Amends the Internal Revenue Code to allow a tax deduction in the current taxable year of points paid for the refinancing of a principal residence to the extent that the resulting indebtedness does not exceed the sum of: (1) the amount of debt refinanced; plus (2) the lesser of $10,000 or the points paid.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E518)
Referred to the House Committee on Ways and Means.
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