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Yes, you should be able to claim your interest from the mortgage of your residence if you meet all requirements and are able to use the Itemized Deduction. This depend on if the mortgage tax and interest and other itemized items will be more than your Standard Deduction. Just enter your information into TurboTax and TurboTax will calculate which deduction is better for you.
Please follow these instructions if you enter the mortgage interest from a form 1098:
Standard deductions for 2019
Possible itemized deductions are:
• Medical and dental costs above and beyond 10% of your AGI
• State, local, real estate, and personal property taxes
• Home mortgage interest
• Charitable donations and gifts
Yes, you should be able to claim your interest from the mortgage of your residence if you meet all requirements and are able to use the Itemized Deduction. This depend on if the mortgage tax and interest and other itemized items will be more than your Standard Deduction. Just enter your information into TurboTax and TurboTax will calculate which deduction is better for you.
Please follow these instructions if you enter the mortgage interest from a form 1098:
Standard deductions for 2019
Possible itemized deductions are:
• Medical and dental costs above and beyond 10% of your AGI
• State, local, real estate, and personal property taxes
• Home mortgage interest
• Charitable donations and gifts
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