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Mortgage interest deduction |
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Mortgage interest deductionIn the US, an allowable federal tax deduction for the annual interest paid on a mortgage.Mortgage interest deductionA federal tax deduction for interest paid on a mortgage used to acquire, construct, or improve a residence.Mortgage interest deduction Similar MatchesStandard deductionStandard deductionThe IRS-specified amount by which a taxpayer is entitled to reduce income an alternative to itemizing deductions. Marital deductionMarital deductionA tax deduction that allow spouses to transfer unlimited amounts of property to one another. Tax deductionTax deductionA provision of the tax code that specifies an amount by which a taxpayer's tax base will be reduced in return for some behavior, resulting in a lowering of the amount of tax paid that depends on their tax rate. Itemized deductionItemized deductionSpecific deductions allowed by the IRS outlined in the tax return. Tax deductionTax deductionAn expense that a taxpayer is allowed to deduct from taxable income. Further SuggestionsDeductionInterest deduction Unlimited marital deduction Dividends received deduction certificate of deduction of tax deduction |
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