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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 MatchesTax 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. Interest deductionInterest deductionAn interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes. Unlimited marital deductionUnlimited marital deductionAn Internal Revenue Service provision that allows an individual to transfer an unlimited amount of assets to a spouse, during life or at death, without incurring federal estate or gift tax. Further SuggestionsMarital deductionDividends received deduction Standard deduction deduction certificate of deduction of tax Deduction |
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