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Assuming no Schedule A and if Mortgage interest and

Posted on: April 26, 2017 at 13:16:51 CT
DevilsAdvocate KC
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Contributions and are considered a adjustment before AGI. Plus the large standard deduction eliminates personal exemptions.

My 2016 Tax Itemized Deductions and Personal Exemptions:

$32,201

Trumps Plan (assuming no exemptions:

$24,000 standard deduction
$8,000 mortgage interest and charitable contributions.
$32,000

If mortgage interest and contributions have to exceed $24,000, then I am screwed with an additional $2,000 in additional taxes each year.

Edited by DevilsAdvocate at 13:18:23 on 04/26/17
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Assuming no Schedule A and if Mortgage interest and - DevilsAdvocate MU - 4/26 13:16:51
     Trump only seeks to enrich the rich - JG MU - 4/26 13:34:57
          DA is the rich, JG, according to most dems like - 90Tiger MU - 4/26 13:54:58
               Other than you being a lying SOB - JG MU - 4/26 14:06:22
     Given that taxes can't/won't come down in total - GA Tiger MU - 4/26 13:27:17
     Passing the tax burden from the wealthy to the middle - MrBlueSky MU - 4/26 13:23:27
          My hope is that the charitable contributions and interest - DevilsAdvocate MU - 4/26 13:26:40
          We don't have all the details yet, but my effective rate - DevilsAdvocate MU - 4/26 13:24:20
               Pay your share(nm) - tman KC - 4/26 13:45:37
                    Screw you. I pay enough already. (nm) - DevilsAdvocate MU - 4/26 13:47:19
                         No you dont. I pay more and it should all be equal - tman KC - 4/26 13:54:10
                              Sorry hard to read it on the board.(nm) - DevilsAdvocate MU - 4/26 13:55:21
                                   HEY I don't mind. I read enough of your posts - tman KC - 4/26 13:59:13
                                        Surprised you can get much of a read on me(nm) - DevilsAdvocate MU - 4/26 13:59:49
                                             It is as if you never post. HA HA(nm) - tman KC - 4/26 14:06:25
                                                  good one(nm) - DevilsAdvocate MU - 4/26 14:07:06
               Details are always lacking with this adminstration. - MrBlueSky MU - 4/26 13:27:04




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