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Deductions & credits
Yes - I'm only trying to deduct interest paid in 2019, from three different banks.
I recognize that the HELOC interest won't be deductible, since I used it to get my ex her equity out of the house.
One of my loans (the existing loan that my wife and I had) accrued over $20K in interest (loan balance was around $570K), but for reasons I can't understand, when I answer that question "Yes" that TurboTax asks about the loans, it automatically changes the answer to "No", and then ignores that interest deduction and pushes me into the standard deduction category... It's either a bug in the software or I'm doing something wrong further up the line...
‎February 10, 2020
5:23 AM