AmitaR
Employee Tax & Finance Expert

Get your taxes done using TurboTax

Hello dlgladson1,

Thanks for joining us today!

Congratulations on the purchase of your home. 

1.  You may be able to deduct your mortgage interest and property taxes each year if your Itemized Deductions are more than the standard deduction.  

2.  You should be getting a W-2 for the income earned from this job as a teacher.  Also, your employer should be withholding federal and state taxes.

3.  If you take any distributions from your retirement accounts, you should receive Form 1099-R and it may be taxable.  You can instruct them to take out withholding for the appropriate federal and state taxes.

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