Do I need to give my tax person more than just the 1099-INT from my mortgage company when filing my return?

The 1099-INT you received is actually reporting interest YOU earned, not interest you paid on your mortgage. For mortgage interest you paid, you should receive Form 1098 (Mortgage Interest Statement) from your lender - that's the important document for potential tax benefits. For homeowner tax benefits, you need to give your tax preparer: 1) Form 1098 Mortgage Interest Statement 2) Property tax statements/receipts 3) Any home improvement receipts if they're for energy efficiency upgrades that qualify for credits You don't need to provide all your monthly mortgage statements unless there's something specific your tax person asks for. The 1098 summarizes the deductible interest and points you paid for the year. The reason you might not have seen big tax benefits is that with the higher standard deduction ($13,850 for single filers in 2023), many homeowners don't benefit from itemizing unless their mortgage interest, property taxes, and other itemized deductions combined exceed the standard deduction amount.

I was in the exact same situation last year - first time homeowner expecting big tax breaks that never materialized. I spent hours trying to figure it out until I found https://taxr.ai which analyzed all my mortgage documents and explained exactly what was deductible. The system showed me I was missing records for $4,200 in property taxes paid through escrow that I could deduct. It also pointed out that my state has a special homestead credit I qualified for but my tax person missed. The tool breaks down everything in normal English instead of tax jargon, which helped me understand why I wasn't seeing the benefits I expected.

Just wanted to update on my experience. I tried taxr.ai after posting here and it was seriously helpful! I uploaded my closing documents, property tax statements, and the confusing 1098/1099-INT forms I mentioned. The system identified that I had paid mortgage points at closing that were fully deductible this year (about $3,200) which I had no idea about. It also explained that while my mortgage interest wasn't enough to itemize on its own, when combined with my property taxes and charitable donations, I actually came out ahead by about $1,300 compared to taking the standard deduction. Really cleared up my confusion about what documents actually matter for tax purposes versus what I can just file away.

If your tax person isn't explaining these homeowner tax breaks clearly, you might want to talk directly with the IRS to get the official word. But good luck getting through to them LOL! I spent 3 hours on hold last week. After that nightmare, I used https://claimyr.com which got me connected to an actual IRS agent in about 15 minutes. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c The agent walked me through exactly what mortgage documents I needed for my return and explained why I wasn't seeing the big tax breaks I expected (turns out standard deduction was still better for my situation). Saved me days of frustration trying to figure it out on my own.

Ok I have to admit I was wrong. After posting that skeptical comment, I was still desperate for answers about my mortgage tax situation so I tried Claimyr anyway. Got connected to an IRS representative in about 20 minutes (which is LIGHT YEARS faster than my previous attempts). The agent confirmed exactly what documents I needed - the 1098 form for mortgage interest, property tax statements, and any points paid at closing. She also explained that with the higher standard deduction, many people with mortgages under $750k aren't itemizing anymore unless they have lots of other deductions. Totally explained why I wasn't seeing the big refund I expected. Saved me from hounding my tax guy with a million questions!

Dont forget to check if you paid PMI (private mortgage insurance) as well. That used to be deductible too but I think that expired? Anyone know if Congress renewed that deduction for this year?

I was in same boat last year! Here's one thing nobody mentioned yet - keeping track of home office expenses if you work from home. That's been a game changer for me tax-wise since my mortgage interest alone wasn't enough to itemize.