2024 home mortgage interest erroneous limitation

Forum|Forum|1 year ago
September 10, 2025
1 reply
56 views

I had a primary home loan for about 465,000. Bank 1 aold that loan to Bank 2 in 2024. Each bank submitted a form 1098 which I included in my turbo tax submission. Turbo tax treated that one loan as two loans because I entered the data for both banks on their submitted 1098 forms. Turbo tax showed on the deductible home mortgage interest worksheet a total of 2 loans for over $930,000, which generated an erroneous limitation on my home mortgage interest. Is there a turbo tax solution for this? My proposed workaround is to combine

the data on one 1098.

rjs

Level 15

Something's wrong with something you entered for one (or both) of the 1098s, but I can't figure out exactly what it might be.

Run Smart Check to see if TurboTax finds any errors in your tax return.

Carefully review your entries for both 1098 forms, and your answers to all of the questions following the entry of each 1098. Read the questions carefully, and pay particular attention to the questions about which is the most recent 1098. The 1098 from Bank 2 would be the most recent.

Are you using TurboTax Online or the desktop TurboTax software? If you are using the desktop software, don't make any entries about mortgage interest in forms mode. Use the Step-by-Step interview.