Is it Possible to Deduct Mortgage Interest?

The Tax Cuts and Jobs Act (TCJA) completely changed the US tax system. The last such change of this magnitude happened more than thirty years ago. Millions of Americans are now left wondering what they’re entitled to and which deductions are still valid.

One of the most widely taken deductions is the deduction for mortgage interest. The TCJA didn’t eliminate it, but major changes were made. Plus, as a result of other changes, many Americans will now be ineligible to use the mortgage interest deduction going forward.… Read the rest