rjs
Level 15
Level 15

Investors & landlords

You probably answered a question incorrectly. When TurboTax asked whether the loan is secured by a property of yours, did you answer Yes? If the loan is not secured by a home that you own, the interest is not deductible. A mortgage loan is normally secured by the home that the loan was used to purchase. Answering this question incorrectly is a common reason that the mortgage interest is not included in Schedule A.