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Most likely, the program concluded that your standard deduction was a better choice then itemizing (entering your mortgage interest and SALT) given your financial situation.
Under the new tax law, the SALT deduction (state & local tax, property tax, vehicle registration, sales tax) is capped at $10,000 ($5,000 if married filing separately). Prior to that, there was no cap. Taxpayers must still itemize to get this deduction – that part hasn't changed.
As a result of these and other tax law changes, our estimate is that nearly 90% of tax filers will now be taking the higher standard deduction, up from around 70% last year. And if you're in the 90% group, you won't see a change in your refund after entering your mortgage interest and property taxes.
The 2018 standard deduction is nearly double the 2017 amount:
$12,000 for Single
Add $1,600 if 65 or older
Add $1,600 if blind
$18,000 for Head of
Household
Add $1,600 if 65 or older
Add $1,600 if blind
$24,000 for Married
Filing Jointly or Surviving Spouses
Add $1,300 for each spouse 65 or older
Add $1,300 for each blind spouse
$12,000 for Married
Filing Separately
Add $1,300 if 65 or older
Add $1,300 if blind
Most likely, the program concluded that your standard deduction was a better choice then itemizing (entering your mortgage interest and SALT) given your financial situation.
Under the new tax law, the SALT deduction (state & local tax, property tax, vehicle registration, sales tax) is capped at $10,000 ($5,000 if married filing separately). Prior to that, there was no cap. Taxpayers must still itemize to get this deduction – that part hasn't changed.
As a result of these and other tax law changes, our estimate is that nearly 90% of tax filers will now be taking the higher standard deduction, up from around 70% last year. And if you're in the 90% group, you won't see a change in your refund after entering your mortgage interest and property taxes.
The 2018 standard deduction is nearly double the 2017 amount:
$12,000 for Single
Add $1,600 if 65 or older
Add $1,600 if blind
$18,000 for Head of
Household
Add $1,600 if 65 or older
Add $1,600 if blind
$24,000 for Married
Filing Jointly or Surviving Spouses
Add $1,300 for each spouse 65 or older
Add $1,300 for each blind spouse
$12,000 for Married
Filing Separately
Add $1,300 if 65 or older
Add $1,300 if blind
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