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Get your taxes done using TurboTax
Thanks for your info. I think you are correct, or at least in the ballpark. I'm looking at the forms, Schedule A, lines 5-12. On that form there is a Mortgage Interest Limited Smart Worksheet. On part A of that worksheet, it says '1 - Home mortgage interest and points reported on Form 1098: $21553. 2 - Limited amount to report on Schedule A, line 8a: $11,420.
This has got to be the problem. It is incorrectly limiting the mortgage deduction. I can click on 'quick zoom' to 'Deductible Home Mortgage Interest Worksheet'. But I'm not sure what to do with that worksheet. I downloaded the worksheet from the IRS website so I'll see if I can make sense of it. Thanks again. If I figure it out I'll update this post.
‎January 31, 2021
12:28 PM