How long does tax return take direct deposit

Tax deductions for home mortgage interest under the Tax Cuts and Jobs Act of 201 including changes in the deductibility of acquisition and . The standard $3deduction. Unlimited state and local tax deductions. A $million mortgage interest deduction. With the interest on a mortgage being deductible when you itemize deductions , it may surprise you how much you can save in taxes. If there is one part of the tax code that is almost universally excoriated by economists, it is the mortgage - interest deduction.

Eliminating the mortgage interest tax deduction would destroy percent of home values, says one economist. Put another way: It would make . Of all the changes made to the tax code this year, the one causing the most panic is probably the decrease in the mortgage interest deduction. Interest expense from her $2. M mortgage is fully deductible : mortgage interest on $750k is deductible through the qualified residence interest .