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rjb1
New Member

Am I able to claim the internet on my mortgage?

 
1 Best answer

Accepted Solutions
DanaB27
Employee Tax Expert

Am I able to claim the internet on my mortgage?

Yes,  you should be able to claim your interest from the mortgage of your residence if you meet all requirements and are able to use the Itemized Deduction. This depend on if the mortgage tax and interest and other itemized items will be more than your Standard Deduction. Just enter your information into TurboTax and TurboTax will calculate which deduction is better for you.

 

  Please follow these instructions if you enter the mortgage interest from a form 1098: 

  1. Login to your TurboTax Account 
  2. Click "Work on other tax breaks"
  3. Click on the Search box on the top and type “1098”
  4. Click on “Jump to 1098”

 

 

Standard deductions for 2019 

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older

 

Possible itemized deductions are:

        • Medical and dental costs above and beyond 10% of your AGI 

        • State, local, real estate, and personal property taxes

        • Home mortgage interest

        • Charitable donations and gifts

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
DanaB27
Employee Tax Expert

Am I able to claim the internet on my mortgage?

Yes,  you should be able to claim your interest from the mortgage of your residence if you meet all requirements and are able to use the Itemized Deduction. This depend on if the mortgage tax and interest and other itemized items will be more than your Standard Deduction. Just enter your information into TurboTax and TurboTax will calculate which deduction is better for you.

 

  Please follow these instructions if you enter the mortgage interest from a form 1098: 

  1. Login to your TurboTax Account 
  2. Click "Work on other tax breaks"
  3. Click on the Search box on the top and type “1098”
  4. Click on “Jump to 1098”

 

 

Standard deductions for 2019 

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older

 

Possible itemized deductions are:

        • Medical and dental costs above and beyond 10% of your AGI 

        • State, local, real estate, and personal property taxes

        • Home mortgage interest

        • Charitable donations and gifts

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

View solution in original post

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