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Article is misleading in a couple of points, as someone else points out not everyone is married filing jointly so the interest deduction and property tax deduction has a bigger effect. Secondly, once you open a Schedule A you get to deduct what you paid in state income tax that year for states that have income taxes or what you paid in sales taxes over the year in states that don't have an income tax. Combined with your mortgage interest and real estate taxes that's way more than the standard deduction. Thirdly, sure renting is cheaper than a mortgage payment in some cases but after my house is paid off, I will have a place to live for the rest of my life in my retirement without having to worry about coming up with rent, even if my house is worth nothing on the real estate market I will still have a place to call my own, rent free

2 years, 5 months ago on The Mortgage Tax Deduction Myth

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