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Tax bill negotiators agree to reduce mortgage interest deduction

Posted by   /  December 13, 2017  /  Real Estate  /  No Comments

Axios House and Senate negotiators have agreed to scale back the mortgage interest deduction in the latest version of the GOP tax bill, two congressional aides told AP. The move means homeowners will now be able to deduct interest on the first $750,000 of a new mortgage, down from the current limit of $1 million. The details: The […]

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Senate bill cuts property tax deduction, keeps MID

Posted by   /  November 13, 2017  /  Government and Politics, Real Estate  /  No Comments

RealtorMag Yesterday, Senate Finance Committee Republicans released their version of the tax reform bill. Although it goes one step further than the House bill by preserving the $1 million cap on the mortgage interest deduction—rather than cutting it to $500,000—it eliminates the deduction for property taxes. These are among the important differences between the plans, both versions […]

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