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Home loans
It depends.
Mortgage interest and property taxes are deductible as itemized deductions if he has enough itemized deductions to exceed he and his wife's standard deduction ($24,800 this year).
Property taxes are included with other state taxes such as income taxes and are limited to $10,000.
If he and his wife do not have itemized deductions greater than their standard deduction, the mortgage interest and property taxes are not deductible anywhere else on their tax return.
‎February 11, 2021
12:01 PM