https://ttlc.intuit.com/community/retirement/discussion/re-taxes/01/3079826#M203786 <P>Hello anyonecooper,&nbsp;</P> <P>First of all, congratulations on paying off your mortgage on your apartment!!</P> <P>So how your taxes will change depends on whether you are currently itemizing... depends on how much mortgage interest you have to enable you to itemize on your personal tax return.&nbsp; Once you pay off the mortgage, you will not have that deduction any more.&nbsp; &nbsp;On the other hand, if you already don't have enough to itemize then paying off the mortgage will not change anything on your taxes at all.</P> <P>Hope that helps!</P> <P>&nbsp;</P> Wed, 26 Jul 2023 16:48:47 GMT AmitaR 2023-07-26T16:48:47Z https://ttlc.intuit.com/community/retirement/discussion/taxes/01/3079796#M203785 <P>I am retired in NYC, my apartment will be paid off in a few months, how will my taxes change? &nbsp;</P><P>&nbsp;</P><P>Patrick</P> Tue, 24 Feb 2026 06:52:34 GMT https://ttlc.intuit.com/community/retirement/discussion/taxes/01/3079796#M203785 anyonecooper 2026-02-24T06:52:34Z https://ttlc.intuit.com/community/retirement/discussion/re-taxes/01/3079826#M203786 <P>Hello anyonecooper,&nbsp;</P> <P>First of all, congratulations on paying off your mortgage on your apartment!!</P> <P>So how your taxes will change depends on whether you are currently itemizing... depends on how much mortgage interest you have to enable you to itemize on your personal tax return.&nbsp; Once you pay off the mortgage, you will not have that deduction any more.&nbsp; &nbsp;On the other hand, if you already don't have enough to itemize then paying off the mortgage will not change anything on your taxes at all.</P> <P>Hope that helps!</P> <P>&nbsp;</P> Wed, 26 Jul 2023 16:48:47 GMT https://ttlc.intuit.com/community/retirement/discussion/re-taxes/01/3079826#M203786 AmitaR 2023-07-26T16:48:47Z