Interest Vs. Taxes

Please present a different view of the mortgage interest tax deduction than the one stated in the Bruss column Jan. 10. It is true that if you pay $1,000 in mortgage interest, you will get back $200 to $300 (depending on your tax rate) when you figure your taxes. However, if your loan is paid off and you don’t pay the $1,000 in interest, you now have the whole $1,000, not just a couple of hundred dollars!

If you don’t want or need a mortgage, the only real estate tax deduction that is a real for sure advantage is something you don’t pay, and still deduct, like depreciation. Don’t have a mortgage just so you can deduct the interest. Granted, you may want a mortgage for other reasons, but surely not just for a tax deduction!

If you must pay $1,000 per month for a place to live, a payment of rent results in no deduction, a payment of interest results in a deduction. But remember, no payment results in no deduction, but you still have the whole $1,000!

JAMES T. HUMBERD

La Quinta