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I own a home (bought 2017), but don't have enough deductions to not use standard deduction. I haven't rec'd my 1098 yet. Do I have to input those numbers to file?
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I own a home (bought 2017), but don't have enough deductions to not use standard deduction. I haven't rec'd my 1098 yet. Do I have to input those numbers to file?
If you are certain that your mortgage interest will not be enough to get you above the standard deduction, you can elect not to use the 1098 so you can file your taxes. Often if you purchase your home later in the year, there may not be enough mortgage interest to be able to use the itemized deductions.
[Edited 09:49PM 27.01.17]
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