Are closing costs tax deductible? What about mortgage interest? Or property taxes? The answer is, maddeningly, “It depends.” Basically, you’ll want to itemize if you have deductions totaling more than the standard deduction, which is $12,000 for single people and $24,000 for married couples filing jointly. Every taxpayer gets this deduction, homeowner or not. And most … Continue reading Are Closing Costs Tax Deductible Under the New Tax Law?