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Money and Finances
Reply to "Mortgage Interest Tax Deducation"
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[quote=Anonymous][quote=Anonymous]Yes, I understand we both itemize. That is not the issue. The issue is when itemizing how to split the mortgage interest. As I understand the rule outlined above, b/c DW does not pay the mortgage she cannot claim the deduction. Does anyone else understand it differently. Going forward, I think I am simply hiring an account to do our taxes b/c as our income goes up it becomes more complicated. Why we can't just have a flat tax rate with no deductions and file it on a 3 x 5 card is beyond me. Well, it's not really, but still I wish it were more simple. [/quote] I’m just impressed you have enough deductions to make itemizing separately worth it given the tax changes. Do you have a very big mtg? Bunching charitable donations?[/quote]
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