You'll need to sign in or create an account to connect with an expert.
Mortgage interest only benefits you for Federal if your total itemized deductions exceed the Standard deduction.
You are asking from TT Free. If you have sufficient deductions to exceed the Standard Deduction, you will need to upgrade to TT Deluxe.
It depends on whether your total itemized deductions are more than your standard deduction.
The standard deduction is based on your filing status:
TurboTax adds in your standard deduction when you select it at the start of your tax return.
As you add itemized deductions, your refund does not change until the total of your itemized deductions is more than the standard deduction.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jeannieb82
New Member
Rhkjr
New Member
LCCarroll1
New Member
nursecella2
New Member
alexdkwok
New Member