02-12-2019, 12:42 PM
Tax return: Married filing jointly
We barely hit itemized deductions due to the $24k standard deduction. Mortgage interest and property tax on our house were the major contributors. I used the standard sales tax deduction assuming our 10.1% local rate - we do not have state income tax. Excise tax for vehicle registration and charitable donations pushed us over the $24k floor, but we also just barely hit the $10k SALT cap.
This tells me if we upgrade our house, we'll likely get the additional mortgage interest, but we won't get any additional money paid in property tax. Yay for getting taxed on money you pay in taxes.
![[Image: 55289396.jpg]](https://memegenerator.net/img/instances/55289396.jpg)
We barely hit itemized deductions due to the $24k standard deduction. Mortgage interest and property tax on our house were the major contributors. I used the standard sales tax deduction assuming our 10.1% local rate - we do not have state income tax. Excise tax for vehicle registration and charitable donations pushed us over the $24k floor, but we also just barely hit the $10k SALT cap.
This tells me if we upgrade our house, we'll likely get the additional mortgage interest, but we won't get any additional money paid in property tax. Yay for getting taxed on money you pay in taxes.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth