But as Congress and the White House negotiate the first major rewrite of tax laws in decades, changing the generations-old mortgage-interest deduction — which costs the government roughly $100 ...

As stated earlier, your mortgage interest deduction limit depends on when you purchased your home and your filing status. If you purchased your home before Dec. 16, 2017 and are a single or joint ...

There are two mortgage interest deduction limits. One relates to how much principal you’re paying interest on. The other relates to how you use the principal you’ve borrowed. You can deduct ...

Everyone wants to save on taxes, and one of the best ways is to maximize every possible deduction ... mortgage interest on your state tax returns. However, how much you can deduct and any other ...

The top 2.2 percent of tax returns claim 22 percent of the benefits from the mortgage-interest deduction, he noted. And the deduction disproportionately benefits homeowners who itemize their ...

If you do claim the deduction, you’ll get a bigger tax break the higher your income and the larger your mortgage, up to the $750,000 limit. What Is the Mortgage Interest Tax Deduction?

According to estimates from the congressional Joint Committee on Taxation, the mortgage interest deduction alone will “cost” the federal government $484.1 billion between fiscal 2010 and 2014 ...

You’re probably focused on stockings, Santa, and gifts right now, but the most wonderful time of the year is just around the corner: Tax season. This magical time is when Americans everywhere ...

While mortgage ... limit, or $375,000 for married filing separately Most homeowners — except those with mortgage debt that exceeds $750,000 — save money thanks to the mortgage interest deduction.

The top 2.2 percent of tax returns claim 22 percent of the benefits from the mortgage-interest deduction, he noted. And the deduction disproportionately benefits homeowners who itemize their ...

But if you’re familiar with some potential deductions ... limited to interest paid on up to $375,000 of home acquisition debt each. That limit still applies if you took out your mortgage ...