Tax Talk: What the new tax law means in home markets
The impact of the new tax law may be large for some but minimal for others. What does it mean for you?
The standard deduction has been increased to $12,000 for single filers and $24,000 for joint filers.
Combined claimed state and local deductions are now capped at $10,000.
Mortgage interest deductions are capped to mortgages up to $750,000 for new filers, the $1M cap will be grandfathered in for those filing before Dec. 14, 2017.