Mortgage interest deduction vs charity deduction Using the following 2 scenarios - is there any tax advantage to either scenario.
1) Deduct mortgage interest $3000 and property taxes $3000
or
2) Deduct $6000 donated to charity (no mortgage interest or property tax deductions)
We are in the 25% tax bracket. We are married filing jointly.
We are selling our house and don't plan to buy another for several years so we'll rent. When we buy our next house we hope to pay cash. Home values have fallen in our area and don't see that as a good investment.
thanx,
bjrn |