Less than half as many American taxpayers are claiming the mortgage-interest deduction for 2018 as did the year earlier. With any luck, the 2017 tax overhaul will prove to be only the first step toward eventually replacing the century-old housing subsidy with a more effective program.
Taxpayers claim the greater of the standard deduction or the sum of various itemized deductions, including mortgage interest. The Tax Cuts and Jobs Act of 2017 raised the standard deduction, capped deductible state and local taxes at $10,000,...
WilliamGale2 You’re out of your mind! If I lose my mortgage interest deduction, the real cost of owning the house goes up and its value goes down and I end up paying lots more income tax. That supposed to help me and others similarly situated?
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