Bought a house in October 2022

[Marie Jeanne]

Hi, we bought a condo on October 2022 and I wondered how I will fill my tax return on Turbotax, what information I will need, thanks? 

[DoninGA]

The purchase of the personal residence is not reported on a tax return.

You can deduct as itemized deductions on Schedule A the mortgage interest paid, the mortgage insurance paid (if any), the property taxes paid and the amount of points paid on the mortgage for the home.

However, your Total itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

Standard deductions for 2022

• Single - $12,950 add $1,750 if age 65 or older
• Married Filing Separately - $12,950 add $1,400 if age 65 or older
• Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
• Head of Household - $19,400 add $1,750 if age 65 or older