Is mortgage interest tax dedictible from both federal and state ?

I live in california and plan to purchase home near future. Will the interest I am going to be paying be tax deductible from both federal and state tax return? I belong 25% federal tax bracket and 9.3% state.Is mortgage interest tax dedictible from both federal and state ?
Most states use the federal tax return to determine your tax liability. Therefore, most deductions, such as mortgage interest, that are deductible on your federal return are deductible on your state return. In layman's terms, the deduction on your federal tax return for mortgage interest carries on through your CA tax return.Is mortgage interest tax dedictible from both federal and state ?
Yes. Use Schedule D on the Fed and the corresponding CA 540 form.





I did it myself when I lived in CA.
Yes. It is deducted on Schedule A on the Federal Return and then carried over automatically to the state.





If you are purchasing the house and paying points that is also deductible. One thing to watch out for is the amount of interest paid. If you close on your house towards the end of the year you may not have paid enough interest to warrant the deduction. Depends on other items you have to deduct.


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Yes. There are quite a few differences between California state and federal returns but this is not one of them.