Tax returns on a 400K house

[Indiatoday2030]

Every year i used to get $1000 as my tax returns. Planning to buy a house for around 400K this year .

Do we have any tax benefits? Can I expect around $2500 as returns going forward.  This answer will help me to finalize the house this month. Thanks in advance.

[Hitman]

Do u do itemized currently? how much total deductions you get every year? Add your home Mortgage Interest + PMI + Property taxes to your deductions list. then you will have some benefit..

Otherwise No one can answer your Q exactly how to get xxx amount. 

 

[mettastar]

Interest and property tax rendu kalipi more than standard deductions 12k unte appudu itemize chesi a0ply chesthe .. 12k kante entha ekkuva unte vaati meda returns ekkuva vasthunnattu .. now u do the math

[Hitman]

+ Thrump tata.. standard deduction 24K chestunnadu.. from tomorrow... so.. dont count any benefits just by buying a new house...

[rapchik]

1 minute ago, mettastar said:

Interest and property tax rendu kalipi more than standard deductions 12k unte appudu itemize chesi a0ply chesthe .. 12k kante entha ekkuva unte vaati meda returns ekkuva vasthunnattu .. now u do the math

If we pay mortgage 2000/ month property tax 700..apudu

[rapchik]

1 minute ago, Hitman said:

+ Thrump tata.. standard deduction 24K chestunnadu.. from tomorrow... so.. dont count any benefits just by buying a new house...

12k nudi 24 ka?..so slab quote 24 aa epudu

[Hitman]

Just now, rapchik said:

12k nudi 24 ka?..so slab quote 24 aa epudu

Yes, direct big leap from 12 to 24. Jai Thrump. 

[xxxmen]

3 minutes ago, Hitman said:

Yes, direct big leap from 12 to 24. Jai Thrump. 

ante penchutunara taxes?

[Hitman]

1 minute ago, xxxmen said:

ante penchutunara taxes?

 eda nunchi vastary bhayya...erra bus ekki...

standard deduction 12k nunchi 24k chestanu promise chesindu.. ante.. u save whatever your tax % of 12K approximately. 

[xxxmen]

Just now, Hitman said:

 eda nunchi vastary bhayya...erra bus ekki...

standard deduction 12k nunchi 24k chestanu promise chesindu.. ante.. u save whatever your tax % of 12K approximately. 

Hitman cool eroju edo bill pass ayindi ga anduku adiga emana penchutunada ani

[Hitman]

41 minutes ago, xxxmen said:

Hitman cool eroju edo bill pass ayindi ga anduku adiga emana penchutunada ani

eeroju budget pass ayyindi.. ade oopu to tax reform kooda introduce cheyyali ani trying.. but tax reform is very big, chala resistance untadi.. anta easy kaadu.. but tata ki migili undi adi okkate.. edaina prajalaki chesanu ani cheppukovadaniki.. so ento konta cheyyachu...

[xxxmen]

Just now, Hitman said:

eeroju budget pass ayyindi.. ade oopu to tax reform kooda introduce cheyyali ani trying.. but tax reform is very big, chala resistance untadi.. anta easy kaadu.. but tata ki migili undi adi okkate.. edaina prajalaki chesanu ani cheppukovadaniki.. so ento konta cheyyachu...

Daniki erra busu love da dialogs endku teliste chepu edana leka pote comment cheyaku

[mettastar]

14 minutes ago, xxxmen said:

Daniki erra busu love da dialogs endku teliste chepu edana leka pote comment cheyaku

ba em pass aindi link eyyi... mana lanti beedhalaki emanna help avudha

[Hitman]

15 minutes ago, xxxmen said:

Daniki erra busu love da dialogs endku teliste chepu edana leka pote comment cheyaku

nee IM privilege emi ayyindi?

[xxxmen]

10 minutes ago, mettastar said:

ba em pass aindi link eyyi... mana lanti beedhalaki emanna help avudha

trump gadi tax reform senate lo pass ayinatu vundi eroju