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Concept of Retirement
Thoughts on AMZN at these levels?
What is a good entry point for Lemonade stock?
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Yes, If you paid more in than you owe. No, if you did not
Chief
Do you mean will your income taxes come down after you buy a house? Maybe. Mortgage interest on a loan up to 750k (MFJ) is deductible and the first $10k of property tax and state income tax. To the extent that these put your deduction above the standard deduction you will reduce your taxes. HOWEVER don’t count in this being a big reduction. The standard deduction is $25,900. Let’s say you have $3k/month interest and $10k SALT so $46k itemized. Maybe that’s overall a net savings of $5k-$6k/year.
You can if you bought it as a rental and are claiming it as income. And you realized a loss. This will lessen your taxable income.
Rising Star
Depends
Rising Star
Usually not much of a diff for most taxpayers. 1st yr even less of a benefit if any unless you buy at the beginning of the yr.