turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

oasiz37
New Member

While calculating itemized deductions, my $11K+ mortgage interest changed my due amount by only a few dollars. What am I missing?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Ashby
New Member

While calculating itemized deductions, my $11K+ mortgage interest changed my due amount by only a few dollars. What am I missing?

It's quite possible that your mortgage interest brings you into itemized deductions, but not by very much. 

The standard deduction nearly doubled this year. It's $12,000 filing single and $24,000 married filing jointly.

So, if your mortgage interest and other deductions only bring you slightly above the standard deduction, you would not see a huge change in tax.

View solution in original post

1 Reply
Ashby
New Member

While calculating itemized deductions, my $11K+ mortgage interest changed my due amount by only a few dollars. What am I missing?

It's quite possible that your mortgage interest brings you into itemized deductions, but not by very much. 

The standard deduction nearly doubled this year. It's $12,000 filing single and $24,000 married filing jointly.

So, if your mortgage interest and other deductions only bring you slightly above the standard deduction, you would not see a huge change in tax.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question