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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.
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.
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