Submitted by Lilslugga2002 t3_10xg6i1 in massachusetts
wallet535 t1_j7t25ea wrote
Reply to comment by wallet535 in IRS May Tax Massachusetts Refunds Sent In 2022 Under 62F Law by Lilslugga2002
Generally speaking, you can deduct home mortgage interest on the first $750,000 ($375,000 if married filing separately) of indebtedness, which alone can be way more than the standard deduction. The capped SALT deduction only adds to this potentially gigantic itemized deduction. Does that make sense? SALT alone won’t make itemized deductions worth it; it’s SALT plus other deductions, mostly the mortgage-interest deduction.
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