Trying to Understand 2018 US Tax Law

General
1

I’m trying to wrap my head around these tax laws. My question is: If I am deducting Mortgage Interest, Real Estate Tax, and State Income Tax, must the total deduction be under $10k?

2

No. The $10K limit is on state and local taxes. You can only deduct $10K of state and local taxes.

No limit on mortgage interest deduction.

3

Vero said:
No. The $10K limit is on state and local taxes. You can only deduct $10K of state and local taxes.

No limit on mortgage interest deduction.

$1M limit, please limit.

4

Vero said:
No. The $10K limit is on state and local taxes. You can only deduct $10K of state and local taxes.

No limit on mortgage interest deduction.

[deleted]

5

Mal said:

Vero said:
No. The $10K limit is on state and local taxes. You can only deduct $10K of state and local taxes.

No limit on mortgage interest deduction.

[deleted]

Guess you didn’t read the question that OP asked…