[quote=XBoxBoy]. . . for someone to save 20k off their tax bill wouldn’t that have to pay over 50k a year in interest? Does anyone think the average californian who’s paying a mortgage is paying over 50k a year in motgage interest?[/quote]
As far as I know XBoxBoy, mortgage interest is only deductible up to $25K per year. Folks who are paying more interest than that can only deduct $25K of it.
Any accountant geek-Piggs out there reading this please correct me if this law has changed.
