Mortgage Deduction Is Popular, But Few Claim It

Only a quarter of tax filers claim the mortgage interest deduction, according to data from the Internal Revenue Service. Moreover, homeowners making $100,000 or more claim almost half of the mortgage interest deducted, while those who make less than $50,000 claim 8 percent of deductions. Industry groups are lobbying to keep the deduction untouched and maintain that it has broad public support. | Read More