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ACo3
Level 1

Mortgage info

Hello,

 

I have a mortgage and noticed this year that in your "Deductions & Credits" section there are areas to manually add mortgage interest (1098) and property (real estate) taxes. I missed this section in 2022 and want to make sure that this should be filled out this year if I do have a mortgage. If so, should I be doing something to update my 2022 tax filing? 

 

Thanks

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1 Reply
MonikaK1
Employee Tax Expert

Mortgage info

If you have home mortgage interest and real estate taxes, then you should complete the questionnaires in TurboTax to determine how much is tax-deductible.

 

TurboTax will add up all of your allowable itemized deductions and compare the total to your standard deduction. You will be able to use whichever is larger.

 

If you find that you will be able to benefit from using itemized deductions this year, and you missed entering your mortgage interest and real estate taxes for 2022, you may wish to consider amending your 2022 return.

 

There are times when you should amend your return and times when you shouldn't. Here are some common situations that call for an amendment:

 

  • You realized you missed out on claiming a tax deduction or credit.
  • You accidentally claimed the wrong tax filing status.
  • You need to add or remove a dependent.
  • You forgot to claim taxable income on your tax return.
  • You realize you claimed an expense, deduction, or credit that you weren't eligible to claim.

 

See this article and this one for more information on filing an amended return with TurboTax.

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