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  2. Mortgage Interest Deduction: Limits and How It Works - AOL

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

    If your itemized deductions exceed your standard deduction, you’ll claim your mortgage interest deduction on Schedule A of Form 1040. Note that some other potential deductions related to your ...

  3. 2025 in the United States - Wikipedia

    en.wikipedia.org/wiki/2025_in_the_United_States

    January 6 – The United States Congress will convene in a joint session for the Electoral College vote count, the final procedure of the 2024 presidential election. [ 9 ] January 9 – The state funeral of Jimmy Carter is scheduled to take place at the Washington National Cathedral in Washington, D.C. [ 10 ]

  4. Itemized deduction - Wikipedia

    en.wikipedia.org/wiki/Itemized_deduction

    If the taxpayer is otherwise eligible to file a shorter tax form such as 1040EZ or 1040A, he or she would prefer not to prepare (or pay to prepare) the more complicated Form 1040 and the associated Schedule A for itemized deductions. The standard deduction is not allowed for calculating the alternative minimum tax (AMT). If the taxpayer claims ...

  5. 5 Things You Can Still Do Now To Minimize Your 2025 Tax Bill

    www.aol.com/finance/5-things-still-now-minimize...

    800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. ... 9 Things You Must Do To Grow Your Wealth in 2025. ... they will only have $22,000 of itemized deductions,” Carcone said. “For ...

  6. State and local tax deduction - Wikipedia

    en.wikipedia.org/wiki/State_and_local_tax_deduction

    To claim the deduction, taxpayers must itemize their deductions on Schedule A of Form 1040. There is a $10,000 limit on the SALT deduction, or $5,000 for a married person filing a separate return. There is a $10,000 limit on the SALT deduction, or $5,000 for a married person filing a separate return.

  7. Taxpayers will get higher standard deductions in 2025, IRS ...

    www.aol.com/taxpayers-higher-standard-deductions...

    For couples who file jointly, that standard deduction will be $30,000 for 2025, an $800 jump from the year prior. And heads of households will get a $22,500 standard deduction, up $600 from 2024.

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