Top 10 Individual Tax Breaks


Exclusion of net imputed rental income

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Homeowners, of course, don’t have to pay themselves rent. But there is still an implied rental income benefit of ownership, and it normally would be considered taxable income. The current law allows an exclusion from taxable income for the implicit gross rental income on housing services.

Revenue loss fiscal years 2012-2016: $302.8 billion

Next: Deductibility of nonbusiness state and local taxes other than on owner-occupied homes

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