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URL:https://www.learndesk.us/class/5678400561741824/lesson/c5705b26518ed97cd4b845abbece043e?ref=outlook-calendar
SUMMARY:Annual Home Deductions
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/5678400561741824/lesson/c5705b26518ed97cd4b845abbece043e?ref=outlook-calendar
DESCRIPTION: 
Annual deductions of homeownership mainly constitute real estate taxes and mortgage interest. The importance of these deductions has decreased with the increase in the standard deduction. The increase in the standard deduction to $24,400 for a married couple in 2019 has decreased the number of taxpayers that itemize. Nevertheless, it is important to review your itemized deductions and see if they exceed the standard deduction. Most times real estate taxes and mortgage interest are the largest part of itemized deductions.
Real estate taxes-real estate taxes actually paid to the taxing authority are deductible in the period paid. Taxes deposited with the lender are not deductible until paid to the taxing authority. Prepaid taxes are not deductible unless they are paid and assessed in the same period. Real estate taxes paid for tax assessments in foreign countries are not deductible. The deductibility of taxes is not limited to two homes. Real estate taxes are deductible for as many...

https://www.learndesk.us/class/5678400561741824/lesson/c5705b26518ed97cd4b845abbece043e?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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