Yes. You should attempt to claim the available deductions every year. However, if your itemized deductions which for homeowners includes mortgage interest paid during the year and real estate taxes paid during the year, do not exceed your standard deduction then you will typically choose the higher standard deduction.
The standard deduction with the corresponding filing statuses are listed below:
Single or Married Filing Separately $12,950
Married filing jointly or Qualifying surviving spouse $25,900
Head of household $19,400
In addition to the homeowner deductions mentioned above, itemized deductions include: charitable donations, state/local taxes paid, and medical expenses paid out of pocket.
TurboTax will assist you in selecting the best option after you input all the possible deductions you have. Simply click through all the deduction topics to help you get familiar with what is possible and enter any that apply to you.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
