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Hi, I had two 1098 mortgage interest statements for 2016... Is there a reason why a 'schedule A' would not be included in my return?
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Hi, I had two 1098 mortgage interest statements for 2016... Is there a reason why a 'schedule A' would not be included in my return?
Yes, until the sum total of your itemized deductions (ie. medical, mortgage interest, property taxes, charitable giving, ct) exceed your Standard Deduction, you will receive your Standard Deduction rather than a Schedule A
Standard deductions for 2016
- Single - $6,300 add $1,550 if age 65 or older
- Married Filing Separately - $6,300 add $1,250 if age 65 or older
- Married Filing Jointly - $12,600 add $1,250 for each spouse age 65 or older
- Head of Household - $9,300 add $1,550 if age 65 or older
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Hi, I had two 1098 mortgage interest statements for 2016... Is there a reason why a 'schedule A' would not be included in my return?
Yes, until the sum total of your itemized deductions (ie. medical, mortgage interest, property taxes, charitable giving, ct) exceed your Standard Deduction, you will receive your Standard Deduction rather than a Schedule A
Standard deductions for 2016
- Single - $6,300 add $1,550 if age 65 or older
- Married Filing Separately - $6,300 add $1,250 if age 65 or older
- Married Filing Jointly - $12,600 add $1,250 for each spouse age 65 or older
- Head of Household - $9,300 add $1,550 if age 65 or older
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