RobertB4444
Expert Alumni

Deductions & credits

Mortgage points are fully deductible up to a $750,000 mortgage balance.  If your case you may have exceeded that balance by entering the remaining mortgage balance on both of the form 1098s that you entered.  

 

Go back to the first 1098 (you called it L1) and delete the amount in box 2 for 'outstanding mortgage principal'.  The correct amount for that entry is zero because they have sold your mortgage and the balance was transferred to the new lender.  

 

If that was the problem then that will fix it by dropping your total mortgage amount below $750,000.  If the problem is that your one mortgage is greater than that then TurboTax is correctly eliminating the deduction.

 

@PR2025 

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