@DN76 wrote:
Thanks a lot Opus and you're quite right, I confused myself by giving two different property tax figures because I was thinking of the 10K salt max for federal. So, yes, it should've been 25K for mortgage and 12k for property tax. Anyway, thanks a lot for your help, I appreciate it. Is there a simple calculator where you can input these figures and see the tax you'd pay? I have a very simple situation. Just employment income, nothing else. I simply want to see how much different apartments will cost me after state and federal tax deductions on the mortgage interest and property taxes.
Turbotax has a federal tax estimation program. I don't know of any official NYS or NYC tax estimator. An interest search shows several run by third parties, but I can't endorse any of them.
You can also use Turbotax Online (carefully). Make a new test account with a separate user name and password. You can enter and then change the facts as needed. Just be sure that you never try to transmit the test return, and never make changes to your real tax return file. In most cases, an estimate using the 2021 program will be close to the actual result for 2022, unless Congress comes up with some new last minute tax law changes.
