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Started By
Message
mortgage interest deduction on house for tax filing
Posted on 4/8/15 at 4:56 pm
Posted on 4/8/15 at 4:56 pm
is there a minimum amount needed to qualify as a deduction to file on my return. I'm in Louisiana, and have no other deductions other than the house.
TIA!
TIA!
2
Posted on 4/8/15 at 5:06 pm to lsufan112001
My noneducated guess is you will probably not end up itemizing and end up using the standard deduction
I don't think there is technically a minimum for that particular deduction though
I don't think there is technically a minimum for that particular deduction though
Posted on 4/8/15 at 5:07 pm to lsufan112001
There's no minimum, but if that's your only deduction you may not be paying enough in interest to itemize and would be better off claiming the standard deduction.
Posted on 4/8/15 at 5:41 pm to Golfer
Individual deduction is $3950. Unless you have more than that to itemize then you would take the individual
Posted on 4/8/15 at 6:56 pm to tygerfan1
I've got 5000
I'm clueless on taxes So thanks
I'm clueless on taxes So thanks
Posted on 4/8/15 at 6:59 pm to tygerfan1
I thought the standard deduction was 6200 for individuals and $12,400 for married couples filing jointly. Is the individual deduction something different?
Posted on 4/8/15 at 9:14 pm to TigerintheNO
I think he meant personal exemption.
Posted on 4/8/15 at 9:15 pm to TigerintheNO
That poster is referring to a taxpayer's personal exemption.
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