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2. Mortgage interest deduction: What it is and what qualifies - AOL

   www.aol.com/finance/mortgage-interest-deduction...

   For mortgages taken out since Dec. 16, 2017, you can deduct only the interest on the first $750,000 if you are single or married filing jointly ($375,000 if you are married filing separately ...

3. Internal Revenue Code section 212 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   Internal Revenue Code § 212 ( 26 U.S.C. § 212) provides a deduction, for U.S. federal income tax purposes, for expenses incurred in investment activities. Taxpayers are allowed to deduct all the ordinary and necessary expenses paid or incurred during the taxable year--. (1) for the production or collection of income; (2) for the management ...

4. Capital gains tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Capital_gains_tax_in_the...

   In the United States, individuals and corporations pay a tax on the net total of all their capital gains. The tax rate depends on both the investor's tax bracket and the amount of time the investment was held. Short-term capital gains are taxed at the investor's ordinary income tax rate and are defined as investments held for a year or less ...

5. Is homeowners insurance tax deductible? - AOL

   www.aol.com/finance/homeowners-insurance-tax...

   Tax form. Form type. Use case. Schedule A (Form 1040) Itemized deductions. Typically used by homeowners to itemize deductions such as mortgage interest, property taxes and in certain cases ...

6. The 6 Most Important Tax Deductions You Need to Claim - AOL

   www.aol.com/finance/6-most-important-tax...

   The maximum deduction you can claim for all state and local taxes, including real estate and personal property tax, income tax and sales tax, is $10,000 — $5,000 if you’re married and filing ...

7. Alternative minimum tax - Wikipedia

   en.wikipedia.org/wiki/Alternative_minimum_tax

   The alternative minimum tax ( AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges. [ 1][ 2]