I would like to understand the tax benefits of buying a house a bit better and how to do the math.

If I get a 400.000 loan over 30 years at a 5% interest rate, then my monthly payments will be somewhere between $2100 and $2300 (based on online mortgage calculators).

I understand that the interest on the loan is tax deductible part. Can anyone help me figuring out how much money that would save me per year?

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I need to do an ammeded tax return.Can this be done online with the same program I used to file my original taxes with? Or do I have to do it by a paper return? And do I have to include my mortgage interest statement on that ammended return? Or will that statement cause me to end up oweing the IRS?

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(student) caculated into the taxes or is that something i need to add into the support thing by myself? thanks
and if my total income on taxes was 21,281 and my parents was 10,601, am i automatically classified as a dependent?
i mean independent thanks
and i meant my taxes were 21 818 thanks
sorry im 23 and was in school. i meet all of the tests i think except the support test.

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i recieved the paper in the mail saying when i will get it but we need food and diapers for the baby right now lol. i check through the search engine and find plenty of pay day advance and stuff liek that but having trouble finding tax stimulas.
pge will be cutt off monday and so will water on tuesday if i dont get some cash.
thanks for any help!

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