Income Limits to Mortgage Interest Deduction?

[Jeff Howard]

Hello,

I have a fairly high AGI and am wondering if there is an income cap for taking the mortgage interest deduction and depreciation on any rental properties I may buy in the future.  I hunted around, and I don't believe there is (I believe this is separate from the 150K AGI limitation on taking passive losses against wage earning income).  We just refinanced our townhome and are looking to keep it as a rental and buy a new primary and I want to make sure we can take maximum deductions and expenses running our new rental as a business.

Thank you,

Jeff