The mortgage interest tax deduction is one of the largest tax deductions for homeowners. It allows you to deduct the interest you’ve paid on your mortgage in the past year. Not understanding how it works could cost you thousands of dollars in taxes. In this video, I explain what the mortgage interest tax deduction is, how you can qualify for the mortgage interest tax deduction, and how to determine whether or not the mortgage interest tax deduction will affect your tax bill.

What do you think of the mortgage interest tax deduction? Let me know in the comments.

Tax Deduction vs Tax Credit: https://youtu.be/fCkTw51brI0

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The Habit That Changed My Life: https://youtu.be/oL3eVoReKCQ

My Debt Free Story: https://youtu.be/F-y-NYitK7c

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FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL OR FINANCIAL ADVICE. The information provided in this video and on this channel is for educational and informational purposes only. It is not intended to be a substitute for legal or financial advice that can be provided by your own attorney, accountant, and/or financial advisor. Practical Personal Finance accepts no liability whatsoever for any losses or damages arising from your own personal financial decisions. You are advised to consult with your financial advisor, tax professional, or attorney regarding any and all financial decisions involving your own income and taxes.

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