Quote:
Originally Posted by FCobra94
You guys keep mentioning "tax writeoff" when it comes to interest. Are you really at a point where the standard deduction is that far behind when itemizing instead?
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It was a lot better before the SALT cap @ $10k. I could deduct $34k in SALT and $16k in mortgage interest. That was good. Once the SLAT cap hit, I was stuck with $10k SALT and $16k mortgage. So in reality, the first $14.5k of mortgage interest is NOT tax deductible. That sucks.
Once 2025 rolls around, the tax cuts go away but the SALT cap stays. Yeah!
Oh well, first world problems.