No tax on interests paid upto 750k mortgage. Upto 10k tax benefits on property taxes. Anything else?
No
No, but those two are huge
You don't get the $10k on prop taxes. SALT is capped at $10k for state taxes and prop taxes.. your state taxes are already likely $10k which means you don't get prop taxes too
Those you mentioned don't apply to CA folks with $200k+ TC. Only benefit left is the $250k/$500k tax exemption when you sell your primary home
Yes, the mortgage interest is deducted from taxable earnings in CA. The interest deduction is huge on a $750k loan (~$30k). Iโm in CA.
I see. I took standard deduction this year because my loan amount is small
Trump fucked us Cali folks without lube.
Nah. High earners no longer pay AMT