When I enter my mortgage interest into the form (over $17,000) TurboTax is telling me that my deduction is $0, why is it doing that?
It keeps pushing me to the standard deduction, but if that $17,00 was used, my itemized would be close to $28,000, why is it not letting me take the deduction? This is for a first and only home, and the price is well under the $750,000 cap.
No, that is not it. When I change to itemized, none of the $16,000 in interest is coming across. I have $11,000 in SALT deductions, but that is the only deduction that is being honored.
This is an issue with Turbo Tax. Some TurboTax customers are experiencing an issue with their Home Mortgage Average Balance. This can cause in the the Home Mortgage Interest to be incorrectly limited. Please sign up here to receive notifications on when this will be resolved.
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