If I did not receive my 1098 tax paper work for the house I purchased until after I filed my taxes, do I need to re-file my return? I didn't realize this form was needed?

[kbrown147]

I purchased a home on 11/21/22 and filed my taxes in mid-January after receiving my W2. My return was accepted without it and I received my refund today, but I want to make sure I'm not going to have to pay in more because I didn't re-file.

[VolvoGirl]

You don't have to amend unless you want to.  Like if it increases your refund but 1 or 2 months of interest won't be enough to deduct.  Did you Itemized Deductions or take the Standard Deduction?

Will your Itemized Deductions be more than the Standard Deduction?

For 2022 the standard deduction amounts are:

Single 12,950 + 1,750 or 65 and over or blind (14,700)

HOH 19,400 + 1,750 for 65 and over or blind

Joint 25,900 + 1,400 for each 65 and over or blind

Married filing Separate 12,950 + 1,400 for 65 and over or blind

[MarilynG1]

As VolvoGirl stated above, the small amount of mortgage interest reported on your 1098 for 2022 would most likely not change your return.  Keep it for your records, though.

Next year, be sure to include your 1098 with the entire year's interest in your return.

Here's How to Enter Mortgage Interest and more info on Do I Need to Amend?

[Kbrown1471]

Ok that makes sense- I was looking online and couldn’t seem to find a straight answer! I did use the Standard Deductions because it was going to be a slightly better return.

Thanks for your help!