made by this section shall apply to taxable years beginning after December 31, 2017. 143. Limitation on deduction for qualified residence interest (a) Interest on home equity indebtedness Section 163(h)(3)(A) is amended by striking during the taxable year on and all that follows through residence of the taxpayer. and inserting during the taxable year on acquisition indebtedness with respect to any qualified residence of the taxpayer. . (b) Limitation on acquisition indebtedness Section 163(h)(3)(B)(ii) is amended to read as follows: (ii) Limitation The aggregate amount treated as acquisition indebtedness for any period shall not exceed the excess (if any) of— (I) $750,00 ($375,000, in the case of a married individual filing a separate return), over (II) the sum of the aggregate outstanding pre-October 13, 1987, indebtedness (as defined in subparagraph (D)) plus the aggregate outstanding pre-December 15, 2017, indebtedness (as defined in subparagraph (C)). . (c) Treatment of indebtedness incurred on or before December 15, 2017 Section 163(h)(3)(C) is amended to read as follows: (C) Treatment of indebtedness incurred on or before December 15, 2017 (i) In general In the case of any pre-December 15, 2017, indebtedness, subparagraph (B)(ii) shall not apply and the aggregate amount of such indebtedness treated as acquisition indebtedness for any period shall not exceed the excess (if any) of— (I) $1,000,000 ($500,000, in the case of a married individual filing a separate return), over (II) the aggregate outstanding pre-October 13, 1987, indebtedness (as defined in subparagraph (D)). (ii) Pre-December 15, 2017, indebtedness For purposes of this subparagraph— (I) In general The term pre-December 15, 2017, indebtedness means indebtedness (other than pre-October 13, 1987, indebtedness) incurred on or before December 15, 2017. (II) Binding written contract exception In the case of a taxpayer who enters into a written binding contract before December 15, 2017, to close on the purchase of a principal residence before January