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While the tax deduction for home mortgage interest is as American as apple pie, the recipe can be very complicated.  The home mortgage interest deduction is an example of a simple general rule with extensive and complicated exceptions. In the good old days, people simply deducted interest that they paid.  There was no distinctio...

There is a well publicized $8,000 Federal Income Tax incentive available to first time home buyers.  This incentive is designed to encourage people to purchase principal residences.  It not only helps those who want to own their own home but also helps stimulate the residential real estate market overall.   Th...