Mortgage Deduction

[trent5]

After entering my Mortgage Interest from Box 1, about $7,000. My Federal Tax Refund does not increase? I double checked by deleting the entry and entered the figured again but the same result, my Federal refund still doesn't change when I typically assume I would see an increase in my Federal refund. Any suggestions?

[VolvoGirl]

It could be that the Standard Deduction is still more than all your itemized deductions.

Or maybe you are already getting back all that you can and more deductions won't increase it.

Itemized Deductions or the Standard Deduction can only reduce your income to zero and not create a refund.  Then you only get back any withholding taken out.

For 2022 the standard deduction amounts are:

Single 12,950 + 1,750 or 65 and over or blind (14,700)

HOH 19,400 + 1,750 for 65 and over or blind

Joint 25,900 + 1,400 for each 65 and over or blind

Married filing Separate 12,950 + 1,400 for 65 and over or blind

[trent5]

Thanks! Yes you are right. Thank you for the detailed response.