Skip to main content
February 6, 2024
Question

Do I need to enter my mortgage interest if it is only $200?

  • February 6, 2024
  • 1 reply
  • 0 views
No text available

1 reply

February 6, 2024

It depends; if you are itemizing your deductions or filing as Married Filing Separately then you should enter the $200.00.  I have found that it is simpler to just enter all of the information you have and allow TurboTax to determine whether you should itemize.  TurboTax will determine whether you should itemize or take the Standard Deduction based on All of the information you input.

 

However, if you do not itemize and claim the standard deduction then No you do not have to enter the mortgage interest of $200.00.  For tax year 2023, most people are claiming the Standard Deduction because of how much it has increased and their itemized deductions are less.  Click the link to determine your Standard Deduction.

 

 

 

Standard vs Itemized Deductions

 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"