Turbotax keeps telling me that my mortgage interest deduction needs review. I don't have a mortgage, and thus didn't pay interest. There's no way to silence it. It feels strangely good to have exposed a UI bug where TT is upset that I own a house but don't owe a bank for it.
that's the way it works on paper - USG sets the interest rate ...but what I'm saying is that they can only set the NOMINAL interest rate. They can set it to 20% if they want! ...but inevitable output is 2% real rate, and 18% inflation.
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in general, "nominal" means "the number" and "real" is "whatever the numbers say, minus the inflation". If a bank pays 4% on deposits, but inflation is 1%, then the nominal interest rate is 4%, but the real interest rate is 3%. https://en.wikipedia.org/wiki/Real_versus_nominal_value_(economics) …
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