Question

Mortgage interest is higher than Standard but TT recommends Standard Deduction

Forum|Forum|2 years ago
November 14, 2023
2 replies
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Turbo Tax doesn't seem to be taking into account my Mortgage Interest. My mortgage interest is a couple hundred less than the standard deduction. With other deduction Turbo Tax is showing Total Deductions of $5k more than the Standard but still wants me to take the Standard. I don't get it.

TurboTax Home & Biz Windows

N

NCPERSON1

@MJohnson1234

1) what is your filing status?

2) how much is the mortgage (be exact); how much isz a) medical bills, b) state and local taxes c) controbutions

remember that the only part of the medical expenses that are deductible is the part that exceeds 7.5% of your AGI. For most, nothing is deductible. is this the issue?

rjs

Employee

Look at Schedule A, not the summary screens in the Step-by-Step interview. Schedule A is filled out, and you can look at it in forms mode, even if you are using the standard deduction. What are the exact amounts on Schedule A line 8e and line 17? What is the amount of your standard deduction on Form 1040 line 12?