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Deducting #Home #Loan Interest Is Trickier Under New #Tax Rules | AutoTraffic

Deducting home loan interest is trickier under new tax rules

The rules for deducting mortgage interest on home loans just got trickier under the Tax Cuts and Jobs Act (TCJA.) The new rules generally limit the deductibility of mortgage interest on up to $750,000 of debt for acquiring a home. In some cases, the new ... read more

Kenneth R. Harney: Tax law doesn't kill home equity loan interest deduction, IRS says

WASHINGTON — It's official: Despite widespread fears to the contrary, the Internal Revenue Service has clarified that last year's big tax bill did not kill all interest deductions on home equity ... student loans. Under IRS allocation rules, you can ... read more

Know the rules about deducting mortgage interest - especially after a refinance

You obtain a new loan in the amount of $350,000. You can only deduct interest ... your tax advisors. In recent years, homeowners older than 62 have started to consider reverse mortgages. Under this arrangement, based on the equity in your home, you can ... read more

The new law is too complicated for small business owners: Tax Strategy Scan

The new tax law is a bane for large corporations ... or home equity loan are advised to understand the rules for mortgage interest deductions on home loans, which have become "trickier" under the new law, according to CBS Moneywatch. While the law doesn ... read more

Affordable Housing and HELOC Deductibility Under New Tax Laws

The legislation also drops the mortgage interest deduction ... an increase in home-buying and economic growth in the housing industry. In the interim, it’s important for industry experts to inform homebuyers about how these new tax laws could affect ... read more

House tax bill will cap mortgage interest deduction, leave 401(k)s unchanged

Under current tax law, Americans can deduct interest payments made on their first $1 million worth of home loans. The bill would allow existing mortgages to keep the current rules, but for new mortgages, home buyers would be able to deduct interest ... read more

Mortgage Taxes in 2018: What You Need to Know

New laws modified eligibility for the mortgage interest deduction in several ways. The change that got the most attention during the debate over tax reform ... on taxpayers. Under old law, you could deduct interest on up to $100,000 of home equity debt. read more

New tax law favors charitable giving from IRAs

InvestmentNews has asked readers to submit their tax ... new tax law. — Mr. Hopkins A: Under the old law, most borrowers could deduct interest on the first $100,000 of "home equity indebtedness." This was a separate deduction from the very popular ... read more

Deducting home loans interest is trickier under new tax rules

The rules for deducting mortgage interest on home loans just got trickier under the Tax Cuts and Jobs Act (TCJA.) The new rules generally limit the deductibility of mortgage interest on up to $750,000 of debt for acquiring a home. In some cases, the new ... read more

IRS may be stepping up scrutiny of mortgage deductions

Under ... home mortgage interest deductions, that appears to be the case. As one of the largest write-offs in the tax code — with a projected $357 billion revenue cost between fiscal years 2016 and 2020 — the mortgage deduction is a fat target. Plus ... read more
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