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Deductions & credits
Enter Mortgage Interest, Points Paid & Property Tax under
Federal Taxes (Personal in Home & Business version)
Deductions and Credits
Your Home
Mortgage Interest - Click the Start or Update Button
OR Property Taxes - Click the Start or Update Button
Then All your total itemized deductions have to be more than the standard deduction to get any benefit from them. Just enter all your itemized deductions in. The program will use whichever is larger - standard or itemized.
For 2020 the standard deduction amounts are:
Single 12,400 + 1,650 for 65 and over or blind (14,050)
HOH 18,650 + 1,650 for 65 and over or blind
Joint 24,800 + 1,300 for each 65 and over or blind
Married filing Separate 12,400 + 1,300 for 65 and over or blind
‎September 24, 2021
1:22 PM
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