How is most of that tax deductible? 1) Can only claim interest tax deduction on the first $750,000 of indebtedness [1] 2) Only can claim up to a maximum of $1

How is most of that tax deductible? 1) Can only claim interest tax deduction on the first $750,000 of indebtedness [1] 2) Only can claim up to a maximum of $10,000 deduction for state and local taxes on the federal taxes. [2] 3) At the beginning of a mortgage are paying mostly interest and have maximum available tax deduction. But as time goes on it switches to being more paying towards principal. So at the end of the mortgage it is very little interest and thus very little tax deductible. [1] https://www.irs.gov/publications/p936 https://www.irs.gov/publications/p936 [2] https://www.irs.gov/taxtopics/tc503 https://www.irs.gov/taxtopics/tc503