My mortgage interest is over 22K, but the software is still recommending the standard deduction be used. Married, filing separately. Is this an error?

jerelina · ‎March 17, 2021

ThomasM125 · ‎March 17, 2021

One possibility is that you indicated that your spouse is choosing to use the standard deduction and in that case you would need to do the same. You must both must use the same method with regards to deductions.

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Carl · ‎March 17, 2021

If your outstanding loan balance was over $750,000 in 2020, then you can only deduct the interest on the first $750,000 of the outstanding balance.

Additionally, SALT (State and Local Taxes) deductions are limited to a maximum of $10,000.

If your maximum "allowed" deductions doesn't exceed your standard deduction, then the standard deduction is better.

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My mortgage interest is over 22K, but the software is still recommending the standard deduction be used. Married, filing separately. Is this an error?