What is the name of your state (only U.S. law)? CO. If your mortgage interest payments are only 6k is it better to just take the standard deduction for a married filing jointly scenario? Do you have to use 1040A if you do take that deduction? I know some deductions you can take on the EZ form. Really not much else to deduct that I'm aware of.
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Mortgage interest deduction?
- Thread starter aldaron
- Start date
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FlyingRon
Senior Member
The only real way to know is to run the numbers both ways and check, however, if the only itemizable deductions you have are less than $12,200 then you'd be better off taking the standard deduction. In addition to the mortgage interest, you probably also have some state and local taxes (income and property) that can be deducted.
If you itemize at all you must use the full up 1040. The things you're thinking about on the 1040A aren't the "deductions" that come from itemized deductions such as interest but rather "adjustments" to income for IRA and certain educational deductions. You really can adjust/deduct anything on the EZ.
If you itemize at all you must use the full up 1040. The things you're thinking about on the 1040A aren't the "deductions" that come from itemized deductions such as interest but rather "adjustments" to income for IRA and certain educational deductions. You really can adjust/deduct anything on the EZ.
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