3103770

How does paying off mortgage affect my taxes?

posted

Connect with an expert

1 Reply

How does paying off mortgage affect my taxes?

Hello Kerry

Paying off your mortgage may or may not affect your taxes.

If you take the standard deduction paying off the mortgage won't affect the taxes,

If you itemize deductions (mortgage interest, taxes, donations,etc) it will reduce your itemized deductions and may increase your taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post