KatrinaB
Intuit Alumni

Deductions & credits

Yes, the state of California is allowing taxpayers to deduct the mortgage interest for loans up to $1.000.000 rather than $750,000. The additional mortgage interest adjustment on the state return is a deduction for the disallowed portion of mortgage interest from the federal return.

Please view the California link below for more information.

https://www.ftb.ca.gov/current/Income-tax-reform.shtml

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