The $10,000 cap is for property, sales, and state income taxes.
Everything you need to know about the GOPs final tax plan in 3 charts
The rich don’t need a mortgage to buy a house but why not? They finance 80% anyway. The taxpayers get to subsidize their interest on the loan and the rich get to shelter some income. Makes sense to me. Just taking advantage of one of those stupid ideas congress came up with to help the so called poor to own a home.
The $10,000 cap is for property, sales, and state income taxes.
Like Obamacare, the law has to be passed before we can read it and find out what is in it. He is not too happy about this indisclosed change in the law that was not disclosed in the Congressional debate re the new taw law.
Have a good day!
I think deducting interest on home equity loans is dead.