Quote:
Originally Posted by MrRoboto
Tax deductible mortgage interest...must be nice.
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Yeah, seriously - boo hoo. We don't get to deduct interest on our houses unless they're rental houses or somehow tied to income earning investments. Nor do we get to deduct property taxes unless again rental house.
But our own houses that we live in - forget it.
Though if you happen to make less than about 70K total as a couple (and I think roughly $40K if single), the government may give you a few hundred bucks back as a credit for property taxes. More of a kind of:
"Holy crap, how'd you manage to pay our insane property taxes on that little of an income! Here's a few bones to offer a fricking glimmer of hope for next year...best wishes."