Phillip Goldstein: New Tax Law Rules On Personal Real Estate

Thinking about buying a home or refinancing before mortgage interest rates shoot up even higher? You can still deduct mortgage interest on Schedule A of your 1040 if you itemize deductions. (Note that with the increased standard deductions, it’s expected that far fewer taxpayers will itemize.) But the new tax law cut back the tax breaks in some cases, depending on the size of the loan, date of the loan and how you use the loan proceeds.Below are some of the changes in the new [...]

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Topics:  New York   Orange County, NY   Middletown   
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