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Deductions & credits
It is new to you.
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 2022 the standard deduction amounts are:
Single 12,950 + 1,750 or 65 and over or blind (14,700)
HOH 19,400 + 1,750 for 65 and over or blind
Joint 25,900 + 1,400 for each 65 and over or blind
Married filing Separate 12,950 + 1,400 for 65 and over or blind
March 31, 2023
1:07 PM