> The tax advantages are humongous. While it is true
> that interest costs alone might not get one to the 2%
> deduction threshold, combined with the property taxes,
> you do get there.
Yes, but the 2% threshold is not the only factor. There is also the fact that you give up the standard deduction in order to enjoy the tax subsidy, so that you are only deducting the amount of interest above $6,000 or so. Or not?
-- Enrique Diaz-Alvarez Office # (607) 255 5034 Electrical Engineering Home # (607) 758 8962 112 Phillips Hall Fax # (607) 255 4565 Cornell University mailto:enrique at ee.cornell.edu Ithaca, NY 14853 http://peta.ee.cornell.edu/~enrique