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Fortune
Fortune
Cassie Bottorff

MYSTERIOUS: Should you take the home mortgage interest deduction | Mind Blowing Facts

Engaged in conversation, a couple seeks guidance from their mortgage broker on mortgage rates and options. (Credit: Getty Images)

You’re probably focused on stockings, Santa, and gifts right now, but the most wonderful time of the year is just around the corner: Tax season. This magical time is when Americans everywhere examine their finances and confirm whether they’re making the best possible choices for their fiscal well-being. 

Until recently, the home mortgage interest deduction was a great choice that could help maximize your annual tax refund. But since the standard deduction was doubled seven years ago, the value of this tax strategy has diminished for most filers.

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