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Level 1
January 20, 2025
Question

Mortgage interest not applying

  • January 20, 2025
  • 2 replies
  • 35 views

I’m working on my 2024 taxes and I am entering my form 1098. I paid about $10,200 in mortgage interest and $2500 in property taxes. It’s my primary home. I entered everything carefully and correctly and I even deleted and re-entered but it’s not giving me anything back for it. Something seems wrong.

    2 replies

    Level 15
    January 20, 2025

    You won’t get any benefit if your standard deduction is greater than your itemized deductions. 

    rjs
    Level 15
    Level 15
    January 20, 2025

    Total deductions of $12,700 is less than your standard deduction unless someone can claim you as a dependent.