PatriciaV
Expert Alumni

Deductions & credits

It sounds like your mortgage interest deduction is being limited. If your active loan amount was under $750,000 as of January 1, 2023 (this year), you need to review your entries for Form 1098.

 

Be sure only one 1098 is listed as the "most recent."

Also, continue through the entry screens after you've entered all three 1098's to answer any further questions. TurboTax should ask for the "ending balance" for each mortgage (of which two should be zero).

 

However, if your average mortgage balance for the year was more than $750,000 ($375,000 if filing separately), then your mortgage interest deduction may be limited. 

 

For more information, see: Can I deduct my mortgage interest?

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