before November 2, 2017, to close on the purchase of a principal residence before January 1, 2018, and who purchases such residence before April 1, 2018, subparagraphs (A) and (B) shall be applied by substituting April 1, 2018 for November 2, 2017 . . (2) Conforming amendments (A) Section 108(h)(2) is by striking for $1,000,000 ($500,000 in clause (ii) thereof and inserting for $500,000 ($250,000 in paragraph (2)(A), and $1,000,000 for $500,000 in paragraph (2)(B), thereof . (B) Section 163(h) is amended by striking subparagraphs (E) and (F) in paragraph (4). (b) Taxpayers limited to 1 qualified residence Section 163(h)(4)(A)(i) is amended to read as follows: (i) In general The term qualified residence means the principal residence (within the meaning of section 121) of the taxpayer. . (c) Effective dates (1) In general The amendments made by this section shall apply to interest paid or accrued in taxable years beginning after December 31, 2017, with respect to indebtedness incurred before, on, or after such date. (2) Treatment of grandfathered indebtedness For application of the amendments made by this section to grandfathered indebtedness, see paragraph (3)(C) of section 163(h) of the Internal Revenue Code of 1986, as amended by this section. 1303. Repeal of deduction for certain taxes not paid or accrued in a trade or business (a) In general Section 164(b)(5) is amended to read as follows: (5) Limitation in case of individuals In the case of a taxpayer other than a corporation— (A) foreign real property taxes (other than taxes which are paid or accrued in carrying on a trade or business or an activity described in section 212) shall not be taken into account under subsection (a)(1), (B) the aggregate amount of taxes (other than taxes which are paid or accrued in carrying on a trade or business or an activity described in section 212) taken into account under subsection (a)(1) for any taxable year shall not exceed $10,000 ($5,000 in the case of a married individual filing a separate return), (C) subsection