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in 2014 of real estate taxes you paid in an earlier year, do not reduce your de- duction by this amount. Instead, you must include the refund or rebate in in- come on Form 1040, line 21, if you de- ducted the real estate taxes in the earlier year and the deduction reduced your tax. See Recoveries in Pub. 525 for details on how to figure the amount to include in income. Line 7 Personal Property Taxes Enter the state and local personal prop- erty taxes you paid, but only if the taxes were based on value alone and were im- posed on a yearly basis. Example. You paid a yearly fee for the registration of your car. Part of the fee was based on the car's value and part was based on its weight. You can deduct only the part of the fee that was based on the car's value. Line 8 Other Taxes If you had any deductible tax not listed on line 5, 6, or 7, list the type and amount of tax. Enter only one total on line 8. Include on this line income tax you paid to a foreign country or U.S. possession. You may want to take a credit for the foreign tax instead of a deduction. See the instructions for Form 1040, line 48, for details. Interest You Paid Whether your interest expense is treated as investment interest, personal interest, or business interest depends on how and when you used the loan proceeds. See Pub. 535 for details. In general, if you paid interest in 2014 that applies to any period after 2014, you can deduct only amounts that apply for 2014. TIP Lines 10 and 11 Home Mortgage Interest If you are a homeowner who received assistance under a State Housing Finance Agency Hardest Hit Fund program or an Emer- gency Homeowners' Loan program, see Pub. 530 for the amount you can deduct on line 10 or 11. A home mortgage is any loan that is se- cured by your main home or second home. It includes first and second mort- gages, home equity loans, and refi- nanced mortgages. A home can be a house, condomini- um, cooperative, mobile home, boat, or similar property. It must provide basic living accommodations including sleep- ing space, toilet, and cooking facilities. Limit on home mortgage interest. If you took out any mortgages after Octo- ber 13, 1987, your deduction may be limited. Any additional amounts bor- rowed after October 13, 1987, on a line-of-credit mortgage you had on that date are treated as a mortgage taken out after October 13, 1987. If you refi- nanced a mortgage you had on October 13, 1987, treat the new mortgage as tak- en out on or before October 13, 1987. But if you refinanced for more than the balance of the old mortgage, treat the excess as a mortgage taken out after Oc- tober 13, 1987. See Pub. 936 to figure your deduction if either (1) or (2) next applies. If you had more than one home at the same time, the dollar amounts in (1) and (2) apply to the total mortgages on both homes. 1. You took out any mortgages after October 13, 1987, and used the proceeds for purposes other than to buy, build, or improve your home, and all of these mortgages totaled over $100,000 at any time during 2014. The limit is $50,000 if married filing separately. An example of this type of mortgage is a home equity loan used to pay off credit card bills, buy a car, or pay tuition. 2. You took out any mortgages after October 13, 1987, and used the proceeds to buy, build, or improve your home, and these mortgages plus any mortgages you took out on or before October 13, 1987, totaled over $1 million at any time TIP during 2014. The limit is $500,000 if married filing separately. If the total amount of all mort- gages is more than the fair market value of the home, ad- ditional limits apply. See Pub. 936. Line 10 Enter on line 10 mortgage interest and points reported to you on Form 1098. If your Form 1098 shows any refund of overpaid interest, do not reduce your de- duction by the refund. Instead, see the instructions for Form 1040, line 21. If you and at least one other person (other than your spouse if filing jointly) were liable for and paid interest on the mort- gage, and the interest was reported on the other person's Form 1098, report your share of the interest on line 11 (as explained in the line 11 instructions). If you paid more interest to the recip- ient than is shown on Form 1098, see Pub. 936 to find out if you can deduct the additional interest. If you can, attach a statement to your paper return explain- ing the difference and enter “See attach- ed” to the right of line 10. If you are claiming the mort- gage interest credit (for hold- ers of qualified mortgage cred- it certificates issued by state or local governmental units or agencies), sub- tract the amount shown on Form 8396, line 3, from the total deductible interest you paid on your home mortgage. Enter the result on line 10. Line 11 If you paid home mortgage insurance in- terest and it was not reported to you on Form 1098, report your deductible mort- gage interest on line 11. If you paid home mortgage insurance interest to the person from whom you bought the home, write that person's name, identifying number, and address on the dotted lines next to line 11. If the recipient of your home mortgage interest payment(s) is an individual, the identify- ing number is his or her social security number (SSN). Otherwise, it is the em- ployer identification number. You must also let the recipient know your SSN. If you do not show the required informa- tion about the recipient or let the recipi- ent know your SSN, you may have to pay a $50 penalty. CAUTION ! CAUTION ! A-7