<prompt> Human: I bought a home in late 2016 but I still paid a small amount of interest at closing. I am married filing jointly, so does this mean that unless my mortgage interest is more than 12,600 yearly there is no point in even trying to deduct it?  <response>: Must itemize to deduct mortgage interest?Yes, but itemized deductions include more then mortgage interest.Have a look at the Schedule A and instructionsIf the sum of your itemized deductions is less than the standard deduction for your filing status, you would claim the standard deduction for the greater tax benefit. 