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comment by kleinbl00
kleinbl00  ·  336 days ago  ·  link  ·    ·  parent  ·  post: Pubski: January 10, 2018

Are you in a position to deduct the mortgage interest anyway? Standard deduction is like 12,6. Next year it'll be like 24. Your mortgage interest deduction is like $600, d00d.




francopoli  ·  336 days ago  ·  link  ·  

$6350 single filing for the 2017 year. With the charity deductions, work stuff, state and local taxes, sales taxes etc I am way over that. I've itemized every year the past decade.

Next year, 2018 tax year, standard deduction is going to be $12K and I may barely touch that depending on medical expenses.

b_b  ·  336 days ago  ·  link  ·  

Apparently, the GOP actually expanded medical tax deductions for the next two years, which is a huge departure from their original position that they were going to kill that deduction altogether, so you might get an extra boost. In the new law, any expense greater than 7.5% of your adjusted gross income is now deductible, instead of 10% in the previous law. This returns to 10% after two years.

kleinbl00  ·  336 days ago  ·  link  ·  

Oh, right. My bad.