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images Notices and posters at De Model: Amie Samuel Poster bypuddonhead06-05 04:20 PM>> Savings on tax deductions/yr: $ 4,050 (30% bracket, $13.5K interest) This assumption may not be correct. You can take tax deduction for mortgage only if you forego standard deduction. Assuming it is a 3 people household (Mr., Missus and Master) - you would forego the standard deduction of around 10k. So the