Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Still need to file? Our experts can get your taxes done right. Get started >
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
xfedman1
New Member

I understand the new deduction for married couples filing jointly is $24,000. Is that in addition to deductions for property tax and mortgage interest deductions?

 
1 Best answer

Accepted Solutions
Texas Roger
Level 15

I understand the new deduction for married couples filing jointly is $24,000. Is that in addition to deductions for property tax and mortgage interest deductions?

No they are separate types of deductions. On your tax return, you can use the standard deduction or itemized deduction whichever is better for you. Property taxes and mortgage interest are itemized deductions along with medical expenses in excess of 7.5% of your AGI, sales or state income taxes, and charitable contributions. Unless the total of all your itemized deductions is more than the standard deduction, you would use the standard deduction. 

View solution in original post

1 Reply
Texas Roger
Level 15

I understand the new deduction for married couples filing jointly is $24,000. Is that in addition to deductions for property tax and mortgage interest deductions?

No they are separate types of deductions. On your tax return, you can use the standard deduction or itemized deduction whichever is better for you. Property taxes and mortgage interest are itemized deductions along with medical expenses in excess of 7.5% of your AGI, sales or state income taxes, and charitable contributions. Unless the total of all your itemized deductions is more than the standard deduction, you would use the standard deduction. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~