Quote:
Originally posted by Hurricane1
Thanks gar1976! So let me get this straight... basically, what you are saying is the interest I pay via home mortgage reduces my taxable income. ie.. if I make 3800.00 a month/salary and pay 800.00 a month/in mortgage interest, then the IRS only wants their taxes based on 3000.00 of salary? Woohoo! Every little bit helps.
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uhhh....that's a bit of an oversimplification, but sure, why not.