topic Should I receive money back for purchasing a house this year? in After you file https://ttlc.intuit.com/community/after-you-file/discussion/should-i-receive-money-back-for-purchasing-a-house-this-year/01/279561#M54715 Mon, 03 Jun 2019 17:16:54 GMT riftkid_2012 2019-06-03T17:16:54Z Should I receive money back for purchasing a house this year? https://ttlc.intuit.com/community/after-you-file/discussion/should-i-receive-money-back-for-purchasing-a-house-this-year/01/279561#M54715 Mon, 03 Jun 2019 17:16:54 GMT https://ttlc.intuit.com/community/after-you-file/discussion/should-i-receive-money-back-for-purchasing-a-house-this-year/01/279561#M54715 riftkid_2012 2019-06-03T17:16:54Z The new standard deduction for single is $12,000 and for... https://ttlc.intuit.com/community/after-you-file/discussion/the-new-standard-deduction-for-single-is-12-000-and-for/01/279570#M54717 <P>The new standard deduction for single is $12,000 and for married filing joint is $24,000, so your itemized deductions would need to exceed that amount to reduce your taxes.</P><P>Property taxes, and state and local taxes (up to $10,000) also gets added in addition to contributions.</P><P>TurboTax will walk you through this and give you the higher of the standard deduction or itemized.</P><P>Many times in the year of purchase of a home, the impact is small or none at all, due to not having a year of interest property taxes paid on the home. <BR /></P> Mon, 03 Jun 2019 17:16:55 GMT https://ttlc.intuit.com/community/after-you-file/discussion/the-new-standard-deduction-for-single-is-12-000-and-for/01/279570#M54717 MichaelL1 2019-06-03T17:16:55Z