Do I get money back from Taxes on my house?

got a mortgage interest statement in the mail...it says my total interest received in 2008 was 2500.00 and real estate taxes were 1300.00...what do I do with this paper work?? thanks, live in Florida BTW

Public Comments

  1. Yes, I just filed mine on Taxact.com (its free and easy) and there is a part they ask if you own your home and pay taxes. You find the amount on your year end mortgage statement (december) and put that amount of the taxes you paid on your house. I did taxact last year and it was deposited in my account (you can do mail or direct deposit) and im supposed to get mine this friday. (filed the 21st) Its easy, Good Luck! Oh also if you do use taxact it will periodically ask if you want to upgrade and I will just click no so it stays free.
  2. You would normally fill in those amounts on Schedule A if your total itemized deductions exceeded the standard deduction. Even though it appears that you may not have enough deductions to itemize, follow the instructions for Schedule A and see where it ends up including standard sales tax (since you have no state income tax). Even if the standard deduction is higher, you can add up to $500 of property tax to that. So assuming you are single and not a dependent of someone else, your standard deduction would be $5450 + $500 = $5950.
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