How do I view how much of a tax break I received from property taxes and mortgage interest for the 2023 tax year?

Forum|Forum|2 years ago
March 27, 2024
2 replies
0 views

No text available

TurboTax Online

Best answer by SteamTrain

@castrojenny822

Save a copy of your tax return as a PDF file

..then open the PDF and look at lines 5b and 8a of the Schedule A.

IF there is no Schedule A in your PDF, then you didn't get any advantage from them, since no Schedule A indicates that the Std Deduction was used, since the Std Ded was greater than all your itemized deductions (at least for what you've entered so far).

SteamTrainAnswer

Employee

@castrojenny822

Save a copy of your tax return as a PDF file

..then open the PDF and look at lines 5b and 8a of the Schedule A.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

VolvoGirl

Employee

For one thing you only get the benefit of the amount it puts you over the Standard Deduction. And property tax is limited. There is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT". SALT is State And Local Tax. Which includes property tax, any state tax paid like for last year’s return and includes any state withholding from your W2s and any 1099s you have. And any taxes in W2 box 14 and 19 like SDI or VDI. You can only deduct up to 10,000 (5,000 MFS) for SALT State and Local Taxes.