What is the potential implication of tax reform on homeownership?
To find answers, the National Association of REALTORS® commissioned a study to review the impact of comprehensive tax reform. The result offers the implications of tax reform that would lower and consolidate marginal tax rates to three rates with a top rate of 33 percent, double the standard deduction, eliminate all itemized deductions other than charitable contributions and mortgage interest, eliminate personal exemptions and the Alternative Minimum Tax, and cap the tax rate on pass-through business income at 25 percent. Click the button below to view the report.
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