1. How much tax can be deducted from mortgage interest? According to the relevant regulations, the mortgage interest is deducted from the tax according to the standard quota of 1 yuan every month, and the maximum deduction period is no more than 24 months.
For example, if a person's monthly salary is 8, yuan, the personal income tax rate is 3%, and the monthly personal contribution for five insurances and one gold is 3 yuan, and the tax threshold is 5, yuan, then the tax payable = (8,-5,-3) * 3% = 81 yuan. At this time, if the special deduction of "housing loan interest" is added and 1 yuan is deducted in a fixed amount every month, then the tax payable =(8-5-3-1)*3%=51 yuan. In this way, the mortgage interest is equivalent to the deduction of 3 yuan tax, and individuals pay less 3 yuan.
ii. explanation on tax deduction of mortgage interest 1. the mortgage interest must be the interest expense of the "first home" loan and the housing in China. 2. Taxpayers can only enjoy the interest deduction of the first home loan once. 3. If both husband and wife purchase houses separately before marriage, they can choose one of them to deduct 1% after marriage, or both husband and wife can deduct 5% of the houses they buy separately. 4, mortgage interest tax deduction, must be in the actual year of loan interest, that is, after the normal repayment, can be deducted.