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Hi all, just read the thread the Hot Topics brought me to and a post in the middle of the thread got me wondering: is there an income level above which you can't deduct mortgage interest? If so, that would totally suck, since this is the first year I'll be able to use that deduction, having bought my first house in April.

I'm single and project income of about $150,000 this year. My 401k is fully funded at $14K, and I'll have about $3500 in property tax and $8400 of mortgage interest to deduct, assuming I can still deduct it at that income level... can I? I also deduct state income taxes paid, estimate that to be about $10,900.

I also have $4000 set aside to put in a non-deductible IRA, since I just hit the beginning of the phase-out level for the ROTH.

TIA
Kasha
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