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Level 1
June 5, 2019
Solved

I paid last year $9883 as mortgage interest and is there a reason why I don't see this amount in the deductions?, I see only 24,000 but is not adding up this $9.8K

  • June 5, 2019
  • 2 replies
  • 22 views
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Best answer by Vanessa11_2

Unless your mortgage interest and other itemized expenses added up to more than $24,000, you will not see any benefit from the mortgage interest which is why you would not be seeing it.  The $24,000 is the standard deduction for Married Filing Jointly. You will either get the Standard Deduction or the Itemized Deduction, you cannot get both.

2 replies

Level 13
June 5, 2019
Do you have other itemized expenses? Charitable donations, medical expenses more than 7.5% of your AGI?
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Level 13
June 5, 2019

Unless your mortgage interest and other itemized expenses added up to more than $24,000, you will not see any benefit from the mortgage interest which is why you would not be seeing it.  The $24,000 is the standard deduction for Married Filing Jointly. You will either get the Standard Deduction or the Itemized Deduction, you cannot get both.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"