You do not mention whether the disability is Social Security disability or some other sort of disability pay, nor have you mentioned whether any tax was withheld from the disability.
If you do not have enough itemized deductions to exceed your standard deduction, then entering mortgage interest will not change your tax due or refund amount.
We cannot see your screen, your return or your account. Have you entered ALL of your 2023 information? All your income, etc.?
Lots of tax laws changed. Those changes are resulting in lower refunds for lots of people.
There is no recovery rebate credit (stimulus $) for 2023. The childcare credit is less and is not refundable. The child tax credit is different and it is less. And for some people, earned income credit is different because there is no “lookback” to an earlier year. Those are some of the reasons your refund may be less.
There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc. You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17? If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC) Are you 65 or older ? If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.
And…..the child tax credit is very different for 2023 For 2021 you could get $3600 for a child under 6 or $3000 for a child between 6 and 17 even if you had no income/did not work. That is NOT the way it will work for your 2023 tax return. The “old” rules are back. The maximum amount of the child tax credit is now $2000; the refundable “additional child tax credit” amount is $1600. In order to get that credit, you have to have income from working. The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1600. If your child is older than 16 at the end of 2023, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.
And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/...
Print out 2022 and 2023 and compare them side by side to see what is different.
https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN
Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and loan origination fees (“points”) that you paid in 2023. You should have a 1098 from your mortgage lender that shows this information. Lenders send these in January/early February.
It is very hard for a lot of people to use itemized deductions now that the standard deduction is so much higher. Your home ownership may not have any effect on your tax due or refund, especially if you purchased the house late in the year.
Standard Deduction
Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Under the new tax laws, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.
2023 STANDARD DEDUCTION AMOUNTS
SINGLE $13,850 (65 or older/legally blind + $1850)
MARRIED FILING SEPARATELY $13,850 (65 or older/legally blind + $1500)
MARRIED FILING JOINTLY $27,700 (65+/legally blind) ) + $1500 per spouse
HEAD OF HOUSEHOLD $20,800 (65 or older/blind) + $1850)
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
