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Level 1
Feb 19, 2020 3:40 PM UTC
Question

mortgage interest

Why isn't my mortgage interest being deducted this year.  It always has in the past??

    4 replies

    Level 7
    Feb 19, 2020 3:58 PM UTC

    Please go over the entries you made when entering your 1098 mortgage interest statement.

    Pay special attention to the questions about the property securing the loan and outstanding mortgage balance.

     

     

    Level 2
    Feb 21, 2020 1:16 PM UTC

    I think there is a problem with the software.  I have this issue also.

    It says you will get the full credit, but when the you do the final review, the credit is -0-,

    Level 10
    Feb 22, 2020 2:39 AM UTC

    Review your total Itemized deductions. If the total amount is less than your Standard Deduction the program will deduct the Standard Deduction.

     

    The 2019 Standard Deductions are:

    • Single and Married Filing Separate - $12,400.
    • Married Filing Jointly and Qualified Widow - $24,800.
    • Head of Household - $18,050.