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darlenep1
New Member

My Federal Refund did not increase at all when I entered my Mortgage Interest and Property taxes?

 
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2 Replies

My Federal Refund did not increase at all when I entered my Mortgage Interest and Property taxes?

Mortgage interest and property taxes paid are just part of your Itemized deductions.  And some deductions are limited.  There is a new question or two you have to answer to get the mortgage interest deduction.  Like maybe put in your ending balance.  Make sure you answer that the loan is secured by the property.  Go back through that section.

 

Then All your total itemized deductions have to be more than the standard deduction to get any benefit from them. Just enter all your itemized deductions in. The program will use whichever is larger - standard or itemized.

 

For 2019 the standard deduction on 1040 line 9 amounts are:

Single 12,200 + 1,650 for 65 and over or blind

HOH 18,350 + 1,650 for 65 and over or blind

Joint 24,400+ 1,300 for each 65 and over or blind

Married filing Separate 12,200 + 1,300 for 65 and over or blind

 

 

My Federal Refund did not increase at all when I entered my Mortgage Interest and Property taxes?

Are the Total of All your itemized deductions greater than the Standard Deduction for your filing status?  If not, then entering the itemized deductions will have no affect on your tax refund or taxes owed.

Note - State/Local income taxes paid OR Sales Tax Paid Plus Property Taxes paid is limited to $10,000 ($5,000 if filing as Married Filing Separately)

 

Standard deductions for 2019

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older

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