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Deductions & credits
Mortgage interest and property taxes are itemized deductions. The total of All your itemized deductions must be greater than the Standard Deduction for your filing status to have any tax benefit.
Standard deductions for 2021
- Single - $12,550 add $1,700 if age 65 or older
- Married Filing Separately - $12,550 add $1,350 if age 65 or older
- Married Filing Jointly - $25,100 add $1,350 for each spouse age 65 or older
- Head of Household - $18,800 add $1,700 if age 65 or older
‎April 17, 2022
4:05 PM
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