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I entered my property tax and mortgage interest and it seems that I did not receive any deduction. This is a large amount. Why does it appear to have not been deducted?

 
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1 Reply
maglib
Level 11

I entered my property tax and mortgage interest and it seems that I did not receive any deduction. This is a large amount. Why does it appear to have not been deducted?

It appears by your name that you are using the free version which just supports 1040EZ and 1040A filings.  To be deductible, you would have to itemize your deductions and the total must be over the standard deduction  (The standard deduction for single taxpayers and married couples filing separately is $6,350 in 2017, up from $6,300 in 2016; for married couples filing jointly, the standard deduction is $12,700, up $100 from the prior year; and for heads of households, the standard deduction is $9,350 for 2017, up from$9,300.) for it to be worth it to itemize.  the program would automatically move you to the higher 1040 version to itemize if you met the thresholds. You also only can get a benefit to the extent of your tax liability...

I hope this was helpful?  I am not a TT employee.

**I don't work for TT. Just trying to help. All the best.
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