Quote:
Originally Posted by RickFLM4
Quote:
Originally Posted by MrRoboto
Tax deductible mortgage interest...must be nice.
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It is but the bigger standard deduction is even better. There may be no need for many people to itemize deductions like interest, state taxes and property taxes any longer. |
I read that most Americans do not itemize anyway so they never got the tax breaks anyway. One example is only 40% of people in NY itemize the rest only took the standard deductions so they will end getting more back since the standard deductions will increase but those who itemize may end paying more since they can not deduct what they use too. I know my itemize deductions were way higher than $24k they note give you.