Just read this article over weekend. You see this topic come up every 5 years or so, but I doubt it would ever pass and if it did, the only change I’d think they implement is lowering the amount from the 1.1 mil to something less (maybe based on state so in CA, probably 697 something or other)…

What I’ve always thought was annoying is that for income properties, you could always deduct all your expenses so if they made this across the board cut completely, you’d see all the home owners become renters and just maintain their deduction by turning their current home into a rental (assuming it could cash flow of course)…

They would then also start deducting all those HOA fees as well take 26.5 depreciation as well as all maintenance costs. The home mortgage and property tax is a pretty big deduction for more middle class folks so I wouldn’t be surprised if one change leads to a whole bunch of strategies around it…