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Real Estate
Eileen M. Day REALTOR
ITEMIZE HOUSE DEDUCTIONS The latest tax laws have allowed homeowners one of the best tax shelters going. That is the deduction of mortgage interest and property taxes from your taxable income. As a homeowner, you will generally find it to your advantage to itemize deductions rather than taking the standard deduction. This is especially true during the earlier years of home ownership. The mortgage interest and property taxes on your pefsonal residence, when added to other deductible items, will usually be well in excess of any standard deduction you could claim.
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