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Deductions & credits
It is not required to be reported to the IRS, but it is needed in order for TurboTax to make the proper calculations. It is used to determine the deductible portion. If the debt exceeds certain amounts ($750,000, or $1,000,000 if the loan was taken before December 15, 2017), then the deduction will be limited.
This information can be found on either a mortgage statement or by contacting your lender.
There is a more in-depth explanation of the 2018 tax reform changes and how it affects your mortgage interest deduction below:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3300473">https://ttlc.intuit.com/replies/3300473</a>
This information can be found on either a mortgage statement or by contacting your lender.
There is a more in-depth explanation of the 2018 tax reform changes and how it affects your mortgage interest deduction below:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3300473">https://ttlc.intuit.com/replies/3300473</a>
‎June 3, 2019
10:35 AM