Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
helenbradley
New Member

Can I deduct mortgage interest paid in 2019?

 
1 Best answer

Accepted Solutions
CatinaT1
Expert Alumni

Can I deduct mortgage interest paid in 2019?

Yes, if you itemize your deductions.

 

When you enter all your information into TurboTax, it will calculate the best deduction for you to use - either the standard deduction or itemized deduction.

 

You may benefit from itemizing your deductions on Schedule A if you:

  • Do not qualify for the standard deduction, or the amount you can claim is limited,
  • Had large out of pocket medical and dental expenses during the year,
  • Paid interest and taxes on your home,
  • Made large contributions to qualified charities, or
  • Have total itemized deductions that are more than the standard deduction to which you otherwise are entitled.

 

**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

1 Reply
CatinaT1
Expert Alumni

Can I deduct mortgage interest paid in 2019?

Yes, if you itemize your deductions.

 

When you enter all your information into TurboTax, it will calculate the best deduction for you to use - either the standard deduction or itemized deduction.

 

You may benefit from itemizing your deductions on Schedule A if you:

  • Do not qualify for the standard deduction, or the amount you can claim is limited,
  • Had large out of pocket medical and dental expenses during the year,
  • Paid interest and taxes on your home,
  • Made large contributions to qualified charities, or
  • Have total itemized deductions that are more than the standard deduction to which you otherwise are entitled.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v