Calculating your potential savings...
Important Disclaimers:
- Eligibility: Not available to individuals earning $150,000/year or more, or households earning $250,000/year or more
- Maximum Deduction: $10,000 per year maximum allowable deduction
- Tax Estimates: Tax savings are estimated based on marginal tax brackets and may vary based on your specific tax situation
- Professional Advice: Consult a tax professional for advice specific to your situation
- Reference: Based on proposed legislation - IRS Information