Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 5, 2024 6:34:29 AM

When I select itemized deductions Maryland refund is up is because I pathe id mortgage

0 1 327
1 Replies
Employee Tax Expert
Mar 5, 2024 6:47:30 AM

Possibly.  In Maryland, if you itemize on your federal return, you can itemize on your Maryland state return.  Mortgage interest paid is one of the itemized deductions that you are allowed to take in Maryland.   The maximum standard deduction in Maryland is $5,150 for Married Filing Jointly and Head of Household. For single, Married Filing Separately or someone that is claimed as a dependent on another persons return, it is $2,550.  This means, if you are single and spent $8,000 on your mortgage interest during the year, your taxable income would be lowered another $ $5,450 just from your mortgage interest.  Your other itemized expenses such as medical expenses in excess of 7.5% of your AGI, charitable contributions, gambling losses up to your reported gambling winnings, are also included in your MD itemized expenses and will help lower your taxable income which will help to increase your refund. 

 

Basically, the less taxable income you have the lower your tax liability.  

 

Maryland Resident Tax Booklet 

Standard versus Itemized Deduction