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Mortgage Interest- Home Office Deduction & Personal Deduction
I originally entered my mortgage interest and property taxes in the Business Home Office section. My home office is only 8.2% of the whole home, so I checked the box 'Yes' to have the rest of the mortgage interest deducted for the rest of the home.
I also originally added the 1098 Mortgage Interest & Property Tax information in the Personal Deductions section. At the end of that section, the Deductions and Credits 'Your Home Summary' correctly showed only the portion of the mortgage interest and property taxes that was left over after the home office percentage.
However, the Turbo Tax community forum states to NOT include the 1098 in the Personal Deductions if it was already included with the home office deductions. So I went back to remove the Personal Deduction mortgage interest, and now the summary doesn't show the amount of mortgage interest that was left over from the home office deduction. It shows 'zero' deduction for home mortgage interest and property taxes, so it seems that I won't get the deduction for the left over amount.
Why would Turbo Tax ask for the mortgage interest & property taxes on the Personal Deductions section if it already allowed for the left over deduction somewhere else? Where would I find the left over credit for the mortgage interest and property taxes if it's not shown on the Personal Deductions & Credit section?
Thank you for your help.
I also originally added the 1098 Mortgage Interest & Property Tax information in the Personal Deductions section. At the end of that section, the Deductions and Credits 'Your Home Summary' correctly showed only the portion of the mortgage interest and property taxes that was left over after the home office percentage.
However, the Turbo Tax community forum states to NOT include the 1098 in the Personal Deductions if it was already included with the home office deductions. So I went back to remove the Personal Deduction mortgage interest, and now the summary doesn't show the amount of mortgage interest that was left over from the home office deduction. It shows 'zero' deduction for home mortgage interest and property taxes, so it seems that I won't get the deduction for the left over amount.
Why would Turbo Tax ask for the mortgage interest & property taxes on the Personal Deductions section if it already allowed for the left over deduction somewhere else? Where would I find the left over credit for the mortgage interest and property taxes if it's not shown on the Personal Deductions & Credit section?
Thank you for your help.
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‎June 4, 2019
12:39 PM