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Level 1

Solved

Deductible Home Mortgage Interest Worksheet

Forum|Forum|4 years ago
January 28, 2022
250 replies
1093 views

During the review process the Deductible Home Mortgage Interest Worksheet (Schedule A) was flagged. It showed the following error: "Deductible Home Mortgage Interest Wks: This form has not been finalized for returns with two or more mortgages and limited mortgage interest. We expect this form to be available after February 17." Does this mean we have to wait until after February 17th to file, or did I make a mistake while entering the 1098 forms?

For background info; I have three 1098 forms that I have entered for the single home that I own. First 1098 is from original lender, they sold the loan so there's a 1098 from the second lender. Then, we also re-financed in 2021 so there is a 1098 from the new lender.

Any help is appreciated!

Best answer by AliciaP1

To avoid waiting to file you should combine the two Form 1098s directly related to the refinance and enter them as one Form 1098 because TurboTax is adding your mortgage balances together and triggering the interest deduction limitation. You can do this when the loan amount has always been less than the threshold.

So, in your situation, you should enter the Form 1098 from the original lender on its own. Then, add the details from the second lender and the new lender together and report the totals as the information for the Form 1098 for the new lender.

For more information, including how to handle points, please take a look at What do I do if I have multiple 1098s from refinancing my home debt?

[Edited 02/19/2022| 12:31 PM PST]

@jmc916

Show previous replies

ijustwanttofilemytaxes

Level 2

Same problem here. Still says February 17th today. Called support couple of days ago, they said "try on 18th or 19th, it will be fixed". Not fixed. Called support again today, they said "try in a week or so, maybe it'll be fixed". Or maybe in a months or so. Or maybe I just go to some provider who can get their act together. Have been filing with TT for many years, but looks like it's time to move on, TT has turned to garbage.

12boutside

Level 2

Same issue, ready to file because my mortgage amy is above $750k. Still says available after the 17th. What’s the update date when the worksheet will be available?

MrGooof

Level 2

It is now February 20th and I still continue to get this error. This is extremely frustrating as I cant help the fact that our mortgage company sold out the loan to another company.

I have had all my tax return documents completed for weeks, waiting for this "form".

Is there really a form pending or is this just an error in TT communication?

Anonymous

Also waiting for this issue to be resolved so I can file. Seems like a software issue that TT has failed to resolve based on previous posts in this thread. Hopefully users keep replying to this thread so Intuit will finally dedicate the resources needed to fix this

Nevada707

Level 2

How about TurboTax works to correct their software defect? It’s seems that's one of the main reasons (only reason) TurboTax is in business; software. Now there’s an idea! Let’s call the new concept: “Proper Business Management”. Did they teach that in MBA school? Oh! Warton and Harvard missed that concept? Too complicated? Can’t understand the math? So sorry. Maybe TurboTax should check with a Software Engineer on their staff. Engineers are taught to answer the question; “Does it work? Yes / No. If No, fix it. If Yes, don’t fix it”. Sad the fancy-pants MBA’s in the Intuit C-Suite haven’t figured that out. When it comes to running a business, we all know MBA’s are a bit retarded, as compared to a run-of-the-mill Engineer. And this isn't rocket science, nuclear energy, or building the Golden Gate Bridge. It's software! It's making an electronic copy of an IRS form! Pretty simple. Maybe the right solution is for Intuit Execs to make an executive decision to fire themselves for incompetence. Hey! There's a solution!

KeithCavill82

Level 3

@Nevada707and @4788421 ,

So the problem is that this thread here is marked "SOLVED".

I'd suggest going to the other thread by Max, where it is still marked open.

And then sharing that on your social media and linkedin to get attention.

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/still-get[product key removed]tible-home-mortgage-interest-worksheet/00/2497987

Nevada707

Level 2

Thanks!

Andira13

Level 2

I've been following this thread and holding out in hopes that TurboTax gets it together, but they still have not. I do not like waiting around to get my business taken care of and therefore will not continue to wait anymore. I have filed through FreeTaxUSA as suggested by a few folks on this thread and it only cost me $15 (compared to the $78 I wasted on TurboTax to not even allow me to file this year). It's a smidge less intuitive, but I just compared what was input on TurboTax and transferred it over to FreeTaxUSA and managed to get all of my information in there without issue and with a slightly larger refund. This worksheet that TurboTax claims is not ready is 100% their fault, not the IRS.

TurboTax has been garbage for me this year and I have been a loyal customer for the last 8 years.
They charged me before warning that I could not file, provided zero update on the issue at hand, and then refused to give a refund even though the issue is on them.

So my suggestion for those of you as frustrated as myself is to just jump ship and find a better service to use. The extra $15 I spent this year to file through TaxFreeUSA is worth it to not have to stress over TurboTax and their nonsense anymore. And if you like it as much as I, you'll get an equal/better service for a fraction of the price of TurboTax.

Good luck, all!

allenshapiro1

Level 2

I have been calling and the experts have no idea. Tier 1-3 and nothing. They give us some time to get back to you on Feb 2, 5th, then 17th said it will be available. Now its the 20th and nobody knows whats going on. I know im not the only person who sold a house in 2021 and purchased another one. What is the issue TT?

allenshapiro1

Level 2

ATTENTION EVERYONE!!!!!!!! I FIGURED IT OUT!!!!!!!!!!!!!!!!

If you have two 1098 forms... on the first form - Make sure if you have 0 mortgage insurance premiums, to not write 0.00, but to write nothing! Just delete that entry. Also make sure that when you jump to your older 1098 on the house you sold, you write that it is not your CURRENT 1098. Had a TT Tier 2 specialist go through this with me and solved it. Taxes are FILED!!!!!!!!!!!!!

Max_Tax_Guy

Level 5

@allenshapiro1 , that may not calculate it correctly.

Depending on your case, and how I understood it, it will add interest without properly calculating the average.

It will not work in scenarios where you will have two new mortgages that you picked up in 2021 on different times.

The Tier 2 specialist should not have given you that feedback, and you should double check your numbers.

allenshapiro1

Level 2

I’m trying to figure out what you see wrong with putting nothing in box 5 instead of $0.00. Especially if that’s exactly what my 1098 said.

rmeigel

Level 2

Just logged in and it's still not working. I talked to a customer service rep on the phone and they said they still don't have a date when it will be available. I wish I would have known I couldn't file my taxes I wouldn't have paid for Turbo Tax and just gone with another company that knows what they are doing

Tax-user-2021

Level 2

It is 2/21/22 and the "Deductible Home Mortgage Interest Worksheet" is still not fixed. Can we please get an update? It is the only item holding me back from filing and am sure I am not the only one.

dber

Level 2

Have been using TurboTax for almost a decade but given that they have no clue when they will allow two 1098 forms for a 2021 refinance or similar situations (Feb 17th has come and gone), what website/company do you recommend as a more capable alternative?

Also, has anyone had luck with refunds? As others have done, I have also paid first ($120) and assumed I could still file with the interim form.

I'm currently on the phone with someone to try and fix the issue rather than refund but I'm sure that won't happen, or it would have for others. Will update if there's anything worthwhile to report back.

ijustwanttofilemytaxes

Level 2

Yeah, this is getting ridiculous. I'm asking for my money back, and if they don't return it I'm filing a dispute with the credit card company. They promised to deliver a service - filing taxes - and due to their software malfunctioning, they are unable to do that. This is clearly their fault and I should not be paying for it. It's extra sneaky that they take the money first and only then they tell me the return actually can't be filed. It's your software, you know you can't deliver, why did you take the money?

dber

Level 2

They just told me to check back on the 26th and try one more time then. Supposedly some updates aren't getting pushed through as they should. I personally am not in a rush to file, so I'll wait and report back here. If it still doesn't work then, I'll try FreeTaxUSA as suggested and will file a dispute with Amex for the TurboTax charges. They didn't 'offer' a refund at all, though I didn't push for it hard but mentioned wanting to go somewhere else.

giforce007

Level 2

I have six different 1098 forms to file as I have multiple rental properties, and also purchased a new house last year. has anyone had any success of using another platform other than TT? I'm ready to make the jump. I just don't have the time to wait around, not knowing when or IF these guys will ever resolve this problem. I'm sure many of us here feel the same.