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New Member
posted Feb 19, 2020 7:40:50 AM

mortgage interest

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

0 4 708
4 Replies
Expert Alumni
Feb 19, 2020 7:58:37 AM

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 1
Feb 21, 2020 5:16:22 AM

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-,

Expert Alumni
Feb 21, 2020 6:39:02 PM

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.

New Member
Mar 10, 2020 5:00:41 PM

I'm having the same issue. I don't understand why the interest isn't being deducted. It's VERY frustrating.