What deductions can I claim in 2023?
An example of an AI chatbot conversation about tax deductions available in 2023.
What deductions can I claim in 2023?
In 2023, you can claim various deductions such as mortgage interest, student loan interest, and medical expenses. Would you like details on any specific deduction?
Tell me more about mortgage interest deductions.
Mortgage interest deductions allow you to deduct the interest paid on your mortgage for your primary residence. This can significantly reduce your taxable income.
Are there limits on how much I can deduct?
Yes, there are limits. For mortgages taken out after December 15, 2017, you can deduct interest on loans up to $750,000. Older loans may have different limits.
What about deductions for charitable donations?
Charitable donations can also be deducted if you itemize your deductions. Make sure to keep receipts and records of your donations.
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