There are two different things: From your link: Taxpayers can deduct the interest paid on first and second mortgages up to $1,000,000 in mortgage debt (the lim

There are two different things: From your link: Taxpayers can deduct the interest paid on first and second mortgages up to $1,000,000 in mortgage debt (the limit is $500,000 if married and filing separately). So mortgage interest for loans beyond $1M are not deductible at all. Then there is the deduction phase-out > You are subject to the limit on certain itemized deductions if your adjusted gross income (AGI) is more than $309,900 if married filing jointly or qualifying widow(er), $284,050 if head of household, $258,250 if single, or $154,950 if married filing separately. Your AGI is the amount on Form 1040, line 38. https://www.irs.gov/publications/p17/ch29.html https://www.irs.gov/publications/p17/ch29.html