Mathematics, 21.07.2021 23:40 dakotaadkins1818

The Anthonys bought a home in January and borrowed $376000 to finance it. The mortgage interest and principal payment is $2011 per month. In the first year, they paid $22175 in interest, $7652 in principal, and $8312 in property taxes. They are in the 24% marginal tax bracket. Approximately, how much will they save in federal income taxes from home ownership the first year, if itemizing deductions?

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The Anthonys bought a home in January and borrowed $376000 to finance it. The mortgage interest and...