4 ms·
Only the interest was deductible with several caveats. It was only about 25% of the interest, there is a max mortgage amount, and there is an income phase out.
by supertrope 8y ago
Only the interest was deductible with several caveats. It was only about 25% of the interest, there is a max mortgage amount, and there is an income phase out. The new tax law limits state and local tax deduction to $10K.