KrisD15
Expert Alumni

Deductions & credits

Home mortgage interest, as well as property tax may not impact your tax return and here's why-

Every taxpayer is given the choice of taking the Standard Deduction or Itemizing Deductions. 

Both are used to lower your taxable income. 

The Standard Deduction is a set amount set by the IRS.

Itemized Deductions are the sum of several items, such as Mortgage Interest, Property Tax,  Charitable Donations, Medical Expenses and several other payments.

Whichever is higher (Standard or Itemized) is selected and that amount is subtracted from your income before the tax is calculated. 

 

Entering Mortgage Interest and Property taxes in your program apparently has not gone over the standard deduction.

 

HERE is a link with more information 

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