Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
helenbradley
New Member

Can I deduct mortgage interest paid in 2019?

 
1 Best answer

Accepted Solutions
CatinaT1
Expert Alumni

Can I deduct mortgage interest paid in 2019?

Yes, if you itemize your deductions.

 

When you enter all your information into TurboTax, it will calculate the best deduction for you to use - either the standard deduction or itemized deduction.

 

You may benefit from itemizing your deductions on Schedule A if you:

  • Do not qualify for the standard deduction, or the amount you can claim is limited,
  • Had large out of pocket medical and dental expenses during the year,
  • Paid interest and taxes on your home,
  • Made large contributions to qualified charities, or
  • Have total itemized deductions that are more than the standard deduction to which you otherwise are entitled.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
CatinaT1
Expert Alumni

Can I deduct mortgage interest paid in 2019?

Yes, if you itemize your deductions.

 

When you enter all your information into TurboTax, it will calculate the best deduction for you to use - either the standard deduction or itemized deduction.

 

You may benefit from itemizing your deductions on Schedule A if you:

  • Do not qualify for the standard deduction, or the amount you can claim is limited,
  • Had large out of pocket medical and dental expenses during the year,
  • Paid interest and taxes on your home,
  • Made large contributions to qualified charities, or
  • Have total itemized deductions that are more than the standard deduction to which you otherwise are entitled.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.46m
Members

2.57m
Discussions

Manage cookies
v