478

class war (beehaw.org)

submitted 7 months ago by sexy_peach@beehaw.org to c/memes@lemmy.ml

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[-] Roopappy@lemmy.ml 4 points 7 months ago

Yeah. To break down why this meme is bad information, in simple terms:

You can't deduct "your mortgage". You can only deduct interest on a loan.
You can't take this deduction on a rental property. You have to live in the home part of the year to take this.
Since the tax changes in 2017, most homeowners don't deduct mortgage interest anymore, because it's better to take the standard deduction offered to anyone.

Don't share or believe bad information.

this post was submitted on 11 Apr 2024

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