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Schedule A form line 10-14 summarize?

April 29, 2011 Mortgage Loan

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Can someone please summarize the instructions for lines 10-14? Here’s the website:

http://www.irs.gov/pub/irs-pdf/i1040sca.pdf

I summarized if, yet it is too long

Line 10
A home. Ex. House, condo, cooperative, mobile home, boat, etc.
Has to include sleeping space, bathroom, or kitchen area.
Mortgage is any loan that is secured by the main home, or second home. It can include 1st and 2nd mortgage and home equity loans and refinance mortgages.
How to enter
Enter the mortgage interest and points recorded on form 1098.
If it shows any refund, don’t reduce your deduction.
If you paid more interest, see publication 936 to see if you can deduct your additional interest.
Line 11
If you and one other person reliable for the mortgage and the interest is recorded on form 1098 for the other person, record your share of interest on line 11.
 If you did not receive the form from the recepient, then use Line 11
If you bought a house from the recepient, you need their name, social security number, and address.
If not, you have to pay a $ 50 fine
Line 12
This is all your points not recorded on form 1098
Points you paid are only deductable over the life of the loan.
You must deduct points you paid to refinance a mortgage over the life of the loan.
If you use the money to improve your home, you could possibly deduct the payments depending on what year it was paid.
Line 13
Mortgage Insurance Premium
Qualified mortgage insurance provided by the department of veterans affairs the federal housing administration or the global housing service.
There is a limit on the amount you can deduct:
You cannot deduct money if your mortgage insurance premium is $ 109,000 or $ 54,500
If your insurance premium is more than $ 100,000 or $ 50,000 if married filing separately, your deduction is limited.
Line 14
Investment interest is a tax on loans but only the loans that are used for mortgage.
You are required to fill out form 4952 unless if all three of these exceptions apply:
Your investment interest is not more than your investment income.
You don’t have any other deductible investment expenses.
You have no disallowed investment expense from the previous year.