Mortgage interest deduction

Forum|Forum|6 years ago
February 26, 2020
2 replies
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I paid $11,653 in home mortgage interest and TurboTax indicates none of it is deductible.

DoninGA

Mortgage interest is an itemized deduction. What is the total of all itemized deductions? Is it more than the Standard Deduction for your filing status?

Standard deductions for 2019

Single - $12,200 add $1,650 if age 65 or older
Married Filing Separately - $12,200 add $1,300 if age 65 or older
Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
Head of Household - $18,350 add $1,650 if age 65 or older

VolvoGirl

There is a new question or two you have to answer to get the mortgage interest deduction. Like maybe put in your ending balance. Make sure you answer that the loan is secured by the property. Go back through that section.