buy a houseRe: 诚心请教# Working - 上班一族
N*t
1 楼
Hi Calvin, I feel compelled to clarify on these points you made.
1. Property tax is deductible as well.
2. Yes you will "lose" you standard deduction(which is $4,700 by the way)
automatically if you choose to claim itemized deductions. However, your
itemized deductions will be far greater than $4,700. Say you buy a 250k house,
20% down, 15-year fixed rate, roughly speaking your interest payment will be
$9,000 per year, plus property tax ($2,000). That's $11,000 already. And
that's not it! Becaus
1. Property tax is deductible as well.
2. Yes you will "lose" you standard deduction(which is $4,700 by the way)
automatically if you choose to claim itemized deductions. However, your
itemized deductions will be far greater than $4,700. Say you buy a 250k house,
20% down, 15-year fixed rate, roughly speaking your interest payment will be
$9,000 per year, plus property tax ($2,000). That's $11,000 already. And
that's not it! Becaus