Calculated Industries QUALIFIER PLUS IIx Uživatelská příručka stáhnout pdf (Strana 68)

SER

’

UIDE

— 67

Mortgage Interest Tax Deduction —

28% or 30% Tax Bracket

What is the Mortgage Interest Tax deduction for the first year (if loan

starts in January*) on a $310,000, 30-year loan at 7.25% interest?

Base it on 28% tax bracket (default). Then, recalculate based on a

30% tax bracket.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter Loan Amount 3 1 0 ) l 310,000.00

Enter Interest 7 • 2 5 ˆ 7.25

Enter Term 3 0 T 30.00

Find monthly Payment p “run” 2,114.75

Enter Year 1 1 a “run” 1-12

Find total Interest in Year 1 a 22,376.60

Find total Principal in Year 1 a 3,000.36

Find Prin./Interest in Year 1 a 25,376.96

Find Remaining Balance a 306,999.64

Find Remaining Term a 29.00

Find Mortgage Interest Tax

deduction in Year 1 based

on 28% Tax bracket a 6,265.45

(etc. — keep pressing

if you want to automatically find next

year’s amortization values and Mortgage Interest Tax deduction.)

Enter 30% Tax bracket 3 0 s + 30.00

Enter Year 1 1 a “run” 1-12

Find total Interest in Year 1 a 22,376.60

Find total Principal in Year 1 a 3,000.36

Find Prin./Interest in Year 1 a 25,376.96

Find Remaining Balance a 306,999.64

Find Remaining Term a 29.00

Find Mortgage Interest

Tax deduction in Year 1 a 6,712.98

Return calculator to 28%

Tax bracket 2 8 s + 28.00

*Note: If loan does not start in January, use the Month Offset feature (e.g., if loan

starts in July, enter

7 s )

and begin problem).

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