MikeG60
Returning Member

Deductions & credits

Thanks!

 

so my total loans are $2.1m for the 3 places. At 750k limit only can recognize 35% of total interest. So that’s 35% of $28k or about $10k plus about $10k re taxes which is less than the standard.

 

plus we’re probably have more income subject to the 0.9% Medicare tax now that it is on a combined income over $250k.

 

Divorce is not an option 🙂  - seems like we’ll just need to resign fact that taxes will be higher combined unless there are other solutions.