How is the Tax Benefit calculated?

The tax benefit is defined by the following equation:

(Tax Bracket x monthly interest payment) + (tax bracket x monthly property tax payment) + (tax bracket x monthly MI payment)

So if my client is at a 28% tax bracket and has a monthly interest payment (for month 1)of $500, a monthly tax payment of $100, and a monthly MI payment of $150, the equation would be:   (.28 x 500) +(.28 x 100) + (.28 x 150) = $210

For the short and long term tax benefit, the totals of each payment (Interest, MI, Property Tax, Points) for that period added together and multiplied by the decimal form of the tax bracket.