The W-4 would be updated through your employer however the Home Mortgage Interest Deduction most likely will have no impact on your tax liability.
In order to use the Home Mortgage Interest Deduction, you would need to Itemize Deductions on Schedule A rather than taking the Standard Deduction. This means that the mortgage interest and other deductions listed on Schedule A would need to total more than the Standard Deduction amount.
STANDARD DEDUCTIONS for Tax Year 2023:
Single ……………………………………..………………..$13,850
Married Filing Jointly ………………………………..$27,700
Qualifying Surviving Spouse ………………….……$27,700
Married Filing Separately ………………………….$13,850
Heads of Household ……………………….…………$20,800
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