DIYbanter - View Single Post - Overextending ourselves on our first home?

krw

In article , says...
krw wrote:
The standard deduction is not $36,000/yr.

The standard deduction for married filing jointly is $10,000/yr. So
by itemizing the OP would get to deduct 36k-10k or 26k more than
otherwise. The deduction is from income, not from taxes. So if the
OP is in the 25% tax bracket this is worth roughly 6k.

In my world $6K is more than $0. My objection was to your
statement: "Your mortgage can cost you more in taxes than it saves,
if you miss this trick." That $6K can be used to directly offset
the monthly mortgage payment.

--
Keith