John and Sarah bought a home last year and paid the following housing expenses during the year:

Mortgage interest
$14,500
Mortgage principal
$1,235
Property taxes
$4,250
Homeowner's insurance
$2,740
Maintenance
$2,150
Utilities
$3,900

Assuming they are in the 28 percent marginal tax bracket,their standard deduction for the year is $11,600 and they have no additional expenses that they can itemize,how much more did they save in taxes from home ownership?

Question

John and Sarah bought a home last year and paid the following housing expenses during the year:
​
Mortgage interest
$14,500
Mortgage principal
$1,235
Property taxes
$4,250
Homeowner's insurance
$2,740
Maintenance
$2,150
Utilities
$3,900
​
Assuming they are in the 28 percent marginal tax bracket,their standard deduction for the year is $11,600 and they have no additional expenses that they can itemize,how much more did they save in taxes from home ownership?

Quizplus · Accepted Answer

The Answer of John and Sarah bought a home last year and paid the following housing expenses during the year:
​
Mortgage interest
$14,500
Mortgage principal
$1,235
Property taxes
$4,250
Homeowner's insurance
$2,740
Maintenance
$2,150
Utilities
$3,900
​
Assuming they are in the 28 percent marginal tax bracket,their standard deduction for the year is $11,600 and they have no additional expenses that they can itemize,how much more did they save in taxes from home ownership?

John and Sarah Bought a Home Last Year and Paid