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rftmbiz
Returning Member

Are the mortgage interest and property taxes I paid in 2018 calculated?

 
1 Reply
CarolynM
Level 1

Are the mortgage interest and property taxes I paid in 2018 calculated?

We don't have access to your tax return, so we can't provide a specific answer.

Mortgage interest and property taxes are both itemized deductions this year, but the property taxes are lumped together with other state/local taxes for a maximum deduction of $10,000.

Itemized deductions, including charity donations and medical expenses, must exceed the standard deduction before you will notice a difference on your tax return. The standard deductions are $12,000 for single filers and $24,000 for married filers.

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