The Truth About Taxes and Your Home

This Element is an excerpt from The Truth About Paying Fewer Taxes (9780137153862) by S. Kay Bell. Available in print and digital formats.

All you need to know about America's #1 tax deduction: the home mortgage interest deduction.

For most of us, our home is our biggest investment. It also provides some of our biggest tax breaks. If you have a mortgage, the pain of that monthly payment is eased each filing season when you realize just how much tax-deductible interest you've paid. Generally, home mortgage interest is any interest you pay on a loan secured by your home. This is typically....