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Level 1
posted Feb 26, 2023 10:23:42 AM

For 2022 Tax Year my mortgage interest is not reducing my tax bill for some reason like all years prior? Any idea why? Nothing has changed for me from past years. :(

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1 Replies
Expert Alumni
Feb 26, 2023 10:40:57 AM

There are a number of reasons you might not be seeing mortgage interest on Schedule A after entering it. You can revisit your entries to confirm, for example, that you identified the loan as being secured by your home, the dollar amount of interest entered was corrected, and that the loan principal was entered and didn't exceed applicable limits. In addition, you may not have had enough total itemized deductions this year to exceed the standard deduction.

 

You can preview your return before filing to find out how your taxes were calculated and review the schedules. See here for details. 

 

Please see this article and this one for more information on home mortgages from TurboTax.