Sentence Examples

  • Another advantage is the potential tax deduction that homeowners who itemize their taxes may be eligible for as a result of paying interest on the home equity loan.
  • By investing in your own home, you may make a profit when you sell it, and the interest on your mortgage is deductible, a considerable cost-savings to those who itemize their taxes.
  • After identifying whether you will claim the standard deduction or itemize your deductions, it calculates the total amount of tax you will owe for the year.
  • Speak to your tax professional to find out if you should use the standard deduction or itemize your deductions to get the best tax advantage.
  • In other words, you cannot deduct interest paid for the home equity line of credit if you do not itemize deductions on your tax return.