The app incorporates the calculations for mortgage interest deduction after the tax cuts, and the jobs act was passed in 2018.
What you can expect from the purchase
> Enter unto three qualified mortgages
> Automatically classify loans as pre and post 15 Dec 2017 (for calculations)
> Total interest for the current year (the program will work for years beyond 2019)
> Your total qualified mortgage limits (based on your marital and filing status)
> Self populating worksheet similar to pub 936
> Amortization tables for all mortgages (if you want to perform the calculations on your own)
The app does not handle grandfathered mortgages (pre-1987)
Please refer to your official bank statements for legal tax purposes; the app is intended for information only and not for any legal or tax filings. We round the numbers and use increments of 10,000 for mortgages, and the outputs will not be completely accurate.
We do not collect any financial information.