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The error condition stating that “limit int/points should
not be greater than –XXXX” is being generated for the case where the taxpayer
has mortgage interest reported on Form 1098 from their lender as well as a
Mortgage Credit Certificate (MCC), but both forms were not entered into the tax
return (or another specialized situation discussed at the end).
In order to be able to claim the MCC, the mortgage interest
information from your lender must also be entered even though you are not
claiming itemized deductions.
To correct the error, be sure that both the form 1098
information (and all the follow-up questions) and the MCC information has been
entered into your tax return. Also, do
not enter any values or answers on the screen where you see the error.
To go directly to the section of your return to enter the
1098 information, you can use the following steps:
-
On the top row of the TurboTax
online screen, click on Search (or for CD/downloaded TurboTax locate the
search box in the upper right corner)
-
This opens a box where you
can type in “1098” and click the magnifying glass (or for
CD/downloaded TurboTax, click Find)
-
The search results will
give you an option to “Jump to 1098” or just click the button to Go
to 1098
After your 1098 information has been entered and the
follow-up questions answered, the error condition should be cleared.
(There was one additional case where the error could be
generated even though both documents were entered. If the box is checked that your name is not
shown on the 1098 from your lender, then the error could be generated. As long as your name is on the loan
documents, you are liable to pay the mortgage, and you did pay the mortgage
interest reported on the 1098, then you can uncheck that box to clear the error
condition.)
