If I own a house. Do I get anything back? I had a house since 2021 and never got a cent back. All I do is pay taxes on it. TurboTax doesn’t have an area how much i pay

Forum|Forum|2 years ago
February 7, 2024
2 replies
39 views

My taxes range 2600-2900 a year. Why don’t I get a tax break on that?

TurboTax Deluxe Online

DoninGA

Level 15

Property taxes paid, mortgage interest paid on a personal residence is reported on Schedule A as itemized deductions.

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

Standard deductions for 2023

Single - $13,850 add $1,850 if age 65 or older
Married Filing Separately - $13,850 add $1,500 if age 65 or older
Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
Head of Household - $20,800 add $1,850 if age 65 or older

juliachambers200Author

Level 2

They say get a house you’ll have a tax break lol

If I own a house. Do I get anything back? I had a house since 2021 and never got a cent back. All I do is pay taxes on it. TurboTax doesn’t have an area how much i pay

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