Reported 22 days ago
Homeowners with mortgages may find new tax deductions available due to recent changes under the One Big Beautiful Bill Act. While the mortgage interest deduction itself remains unchanged, the law reinstates the deductibility of mortgage insurance premiums and increases the state and local tax (SALT) deduction limit, thus making itemization more beneficial for a larger number of homeowners, especially those with high mortgage rates and those who previously claimed standard deductions.
Source: YAHOO