Mortgage Interest paid in 2019 is entered as an itemized deduction on Schedule A. Most taxpayers can no longer use itemized deductions due to the increase in the Standard Deduction.
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 2019
- Single - $12,200 add $1,650 if age 65 or older
- Married Filing Separately - $12,200 add $1,300 if age 65 or older
- Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
- Head of Household - $18,350 add $1,650 if age 65 or older
To enter mortgage interest -
Enter mortgage interest in the Search box located in the upper right of the program screen. Click on Jump to mortgage interest
