4 ms·
> You can write off loan interest. Which only matters if you somehow go above the crazy high $25k standard deduction. I am fairly well off and have kids and s
by reedjosh 5y ago
> You can write off loan interest.
Which only matters if you somehow go above the crazy high $25k standard deduction.
I am fairly well off and have kids and student loan debt to write off interest on as well, but I've never broke $19k in write offs.
So, unless you have a business or something, the interest write off is kinda useless.
- VirusNewbie 5y agoYou must live in a low CoL state? I'm easily above that, 10k for state taxes and paying 20k in interest a year isn't that much.
- reedjosh 5y ago> You must live in a low CoL state? Ish... 2500 in property tax (house is >100yrs old), and 3.125% interest on a loan w/$285k left on the mortgage. > 10k for state taxes Are you saying you can write off your state taxes?
- CuriouslyC 5y agoIt's capped, but yeah. That's the SALT tax cap that has been a point of political contention.