As @Bsch4477 said, your new condo, assuming it is your primary residence and is not being used for rental purposes, does allow you to take new deductions on your tax return. The tax information should be reported to you by your mortgage company on a Form 1098.
Mortgage interest is fully deductible as an itemized deduction on outstanding mortgages up to $750,000. If you paid any property taxes in this year, that should also be reported on the Form 1098. If you are paying Private Mortgage Insurance this is also deductible. Any points you may have paid to reduce the APR of your loan may also be deducted over the life of the loan. TurboTax will handle this calculation automatically.
It is possible, particularly in your first year of home ownership, that all these deductions may not impact your tax return since you will not have a full year of mortgage interest paid. TurboTax will automatically calculate whether these itemized deductions or the standard deduction will yield a better result on your tax return. Every year, depending on your changing circumstances and changing tax laws you can always take whichever deduction is most advantageous to you.
To enter your mortgage information in TurboTax, just Search for 1098 and select the Jump to link. You may then follow the on-screen instructions.
