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January 20, 2025
Question

Mortgage interest not applying

  • January 20, 2025
  • 2 replies
  • 0 views

I’m working on my 2024 taxes and I am entering my form 1098. I paid about $10,200 in mortgage interest and $2500 in property taxes. It’s my primary home. I entered everything carefully and correctly and I even deleted and re-entered but it’s not giving me anything back for it. Something seems wrong.

    2 replies

    Employee
    January 20, 2025

    You won’t get any benefit if your standard deduction is greater than your itemized deductions. 

    rjs
    Employee
    January 20, 2025

    Total deductions of $12,700 is less than your standard deduction unless someone can claim you as a dependent.