Money
Retirement, housing, banking and credit, with the same rule as the rest of TaxMath: every figure is sourced, and where your state changes the answer, we show you by how much. Jump to Retirement, Housing, Banking or Credit.
Retirement
IRAs, 401(k)s, Social Security and pensions, and what each state takes from them.
The first retirement pieces are in the works.
Housing
Buying, selling, renting and owning a home, with the state rules that change the bill.
The first housing pieces are in the works.
Banking
Savings, interest and accounts, and how your state treats the money they earn.
The Trump Account Is a Traditional IRA With a $1,000 Head Start
Section 530A builds the Trump Account as a traditional IRA for children: a one-time $1,000 Treasury deposit for children born 2025 through 2028, after-tax contributions capped at $5,000 a year, and ordinary income tax on the earnings at withdrawal. Growth is tax-deferred, and the widely reported 'tax-free' label is wrong.
Credit
Loans, cards and credit reports, and where state law goes further than federal.
The $10,000 Car Loan Interest Deduction Turns on the VIN
For tax years 2025 through 2028, up to $10,000 a year of interest on the loan behind a new, US-assembled, personal-use vehicle comes off taxable income on Schedule 1-A, stacked on the standard deduction. The assembly test is settled per VIN, and past $100,000 of MAGI the deduction shrinks by $200 for each $1,000.