Title: are mortgage interest payments tax deductible in california Post by: ThomasVaway on September 05, 2024, 06:13:40 AM | **California** | **No** | Property taxes, insurance premiums, energy-efficient upgrades |
* **Homeowners Insurance:** The premiums you pay for homeowners insurance generally are not deductible, except in certain circumstances such as those involving a federally declared disaster. Discover more about this <a href=https://tradeprofinances.com/mortgage/is-mortgage-interest-tax-deductible-in-california/>https://tradeprofinances.com/mortgage/is-mortgage-interest-tax-deductible-in-california/</a> " 2. **California AGI:** Your California AGI is based on your federal AGI. Therefore, the reduced federal AGI due to the mortgage interest deduction also reduces your California AGI. **Scenario:** Suppose you own a primary residence and have the following mortgage debt: * **Consider Refinancing**: If you have a high interest rate on your mortgage, refinancing to a lower rate could save you money in the long run and increase the amount of interest you can deduct. <h3>1. Can I deduct mortgage interest if I rent out a portion of my home?</h3> |