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Deductions & credits
There is not a new cap on the other deductions. The cap is $10,000 which includes real estate taxes and state and local taxes. Mortgage interest would increase the itemized deductions to over $16k. Head of Household filing status has a standard deduction of $18,800.
The mortgage interest that you paid may have decreased since you refinanced last year. If you have a lower interest rate now, this could account for not having enough deductions to be higher than the standard deduction.
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‎February 22, 2022
5:47 AM
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