I never said that it should be. You replied to the grandparent that it is deductible. The grandparent said that a mortgage should be tax deductible. Neither you or the grandparent specified what portion should be or is tax deductible.
All I am saying is the portion of mortgage, that is tax deductible, is not a net tax benefit to most people.
I understand how tax credits and deductions work. A tax deduction only reduces taxable income. If one doesn't have itemized tax deductions exceeding the standard deduction then a relatively small deduction, on its own, has zero net benefit to the taxpayer.
One can take a deduction from their taxable income and it not matter in the total amount of tax owed.
I never said that it should be. You replied to the grandparent that it is deductible. The grandparent said that a mortgage should be tax deductible. Neither you or the grandparent specified what portion should be or is tax deductible.
All I am saying is the portion of mortgage, that is tax deductible, is not a net tax benefit to most people.
huh? You literally don't pay taxes on a portion of your income. There is no "net." It's just a benefit. It's really easy to claim.
I understand how tax credits and deductions work. A tax deduction only reduces taxable income. If one doesn't have itemized tax deductions exceeding the standard deduction then a relatively small deduction, on its own, has zero net benefit to the taxpayer.
One can take a deduction from their taxable income and it not matter in the total amount of tax owed.