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Tag: mortgage interest deduction

  • Policy Research

Federal Tax Return Itemization and the Mortgage Interest Deduction

Jesse WadeAugust 1, 2024August 1, 2024011 mins

Since the passage of the Tax Cuts and Jobs Act (TCJA) in 2017, tax returns that itemize Schedule A deductions, such as the mortgage interest deduction (MID) , have fallen significantly with only 9.6% of all returns using an itemized deduction in tax year 2021. In 2017, the share of returns claiming an itemized deduction…

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