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What 1040 form is typically filed when a taxpayer only has a home mortgage interest deduction?

Forum|Forum|6 years ago
June 1, 2019
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Best answer by Celery63

If your total itemized deductions, including mortgage interest add up to be more than your standard deduction, then the itemized deductions are listed on Schedule A of Form 1040. If your total itemized deductions are less than your standard deduction, then the version of the 1040 filed depends on what other types and amounts of income that you have. If your situation is very simple, then a 1040-EZ might be used. Slightly more complex and it could be either a Form 1040A or Form 1040. There is no "typical" form, it depends on your unique situation of income, expense, and amount of deductions.
You can get more information about what version of Form 1040 to use at this IRS link:
https://www.irs.gov/taxtopics/tc352.html

C

Celery63Answer

If your total itemized deductions, including mortgage interest add up to be more than your standard deduction, then the itemized deductions are listed on Schedule A of Form 1040. If your total itemized deductions are less than your standard deduction, then the version of the 1040 filed depends on what other types and amounts of income that you have. If your situation is very simple, then a 1040-EZ might be used. Slightly more complex and it could be either a Form 1040A or Form 1040. There is no "typical" form, it depends on your unique situation of income, expense, and amount of deductions.
You can get more information about what version of Form 1040 to use at this IRS link:
https://www.irs.gov/taxtopics/tc352.html