You're talking about 2009 taxes now? lol
I think there's a lot more stuff you can add to the taxes....
property tax, mortgage insurance, closing costs (not all), mortgage interest payments, etc
You would need to ask a tax rep, but I think you can include a lot more stuff than mortgage related expenses within the 10,500.
I think you will be getting an interest payment form 1040.
You will be paying a lot of interest upfront within the first 10years of the mortgage.
I'm not totally sure about it but you can check out
Home Mortgage Interest Deduction - Claiming Mortgage Interest as a Tax Deduction
for more info about mortgage deductions.
Quote:
Originally Posted by darrell2525
thanks for the responding.
My wife and I are filing jointly, but my itemized deduction is less than the the standard the deduction of 10,500.
total itemized deductions is 6500
standard deduction is 10500
Do even need to show the 6500 on the W-4 form or just leave it blank.
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