RobertB4444
Expert Alumni

Get your taxes done using TurboTax

If you received a 1098 for your mortgage then you should enter it into the deductions and credits section of your federal return.  If your interest and taxes are more than your standard deduction then you will receive a tax break.  

 

In order to take any deduction on your tax return you are expected to have a piece of paper to back it up.  I'm not sure which section of the return is asking for you to enter receipt values.  But maintaining them is a requirement in order to take the deductions that come with them.

 

In order to reduce your tax bill you should look in to additional retirement account options.  You might want to sit down with an investment counselor or financial advisor.

 

@juliachambers200 

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