https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-ve-misplaced-my-information-from-my-mortgage-company-will-it-make-a-difference-on-my-refund-i/01/138323#M18661 Sat, 01 Jun 2019 06:53:41 GMT stgarcia3 2019-06-01T06:53:41Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-ve-misplaced-my-information-from-my-mortgage-company-will-it-make-a-difference-on-my-refund-i/01/138323#M18661 Sat, 01 Jun 2019 06:53:41 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-ve-misplaced-my-information-from-my-mortgage-company-will-it-make-a-difference-on-my-refund-i/01/138323#M18661 stgarcia3 2019-06-01T06:53:41Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/we-can-t-be-sure-if-it-will-make-a-difference-on-your-ret/01/138328#M18662 We can't be sure if it will make a difference on your return, but read below...<BR /><BR /><P><B>Mortgage interest</B> on your home is reported on form 1098. <B>Property taxes</B> are also often reported on form 1098 (but aren't required to be).</P><P>For many homeowners, these two items are the largest part of their <B>Itemized Deductions</B>. If their Itemized Deductions exceeds the Standard Deduction for their filing status, then TurboTax will automatically choose the Itemized Deductions as reported on Schedule A. <BR /></P><P>If your return can use Schedule A, then each additional dollar on Schedule A reduces your taxable income and therefore decreases the tax due or increases your refund.</P><P>But this is not guaranteed; it depends on the other amounts that you can place on Schedule A as well as your Standard Deduction. The best thing would be to get a copy of the 1098 and see what difference it makes.<BR /></P> Sat, 01 Jun 2019 06:53:42 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/we-can-t-be-sure-if-it-will-make-a-difference-on-your-ret/01/138328#M18662 BMcCalpin 2019-06-01T06:53:42Z