Worst case answer: About $50,000.
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First, a couple of disclaimers …
1) I’m not a tax accountant or lawyer … so, nothing I say should be construed to be financial or tax advice.
2) Philosophically, I’ve always thought the income tax deduction for mortgage interest should be shelved.
Note: That philosophical principle certainly never stopped me from claiming my allowed tax deductions for my home mortgages.
OK, let’s get started…
The Homa Files 