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February 23, 2020
Question

I have a mortgage interest statement 1098 why am I not getting any mortgage credits?

  • February 23, 2020
  • 1 reply
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1 reply

February 23, 2020

Your itemized deductions (generally these are mortgage interest, taxes, and charitable contributions) may not be larger than your standard deduction.  

 

TurboTax will automatically choose whichever one will benefit you more.

 

Here is a link that will provide details on the standard deduction amount for various filing statuses:  2019 Standard Deduction

 

 

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Critter
Employee
February 23, 2020

Interest reported on a form 1098 does not qualify you for the mortgage credit ... to get that credit you must have also received paperwork from the mortgage company telling you you qualify and gives you the information needed to complete that credit section.