GOP tax plan does not yet address many real estate questions

 

Source: Kenneth Harney, Washington Post ( Paid Registration )

Yes, the mortgage interest deduction would be preserved, but with the doubling of the standard deduction to $12,000 (for single tax filers) and $24,000 (for joint filers), many current itemizers taking the mortgage write-off are likely to opt for the standard deduction.

If most people take the standard deduction, the homeownership stimulant effects of the mortgage interest write-off could be diminished and have an impact on home prices.

Read Full Article: GOP tax plan does not yet address many real estate questions

 

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