The amounts for mortgage interest and property taxes being used on Schedule A is much higher than what I entered from my 1098...why would that be? The home mortgage interest worksheet has the correct amount, but the amount on Schedule A is different.
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Well I went ahead and installed updates and neglected to save my progress, so I had to enter everything all over again. When I did, this issue resolved itself...there was no double counting in the worksheet.
Are you certain that this isn't including the sales or state tax amount? The deduction for those has been raised for this tax year and that can increase your deduction significantly.
Sales tax is not included, but I do see now how it is being calculated in the Tax & Int Worksheet. In that sheet, 2a asks for the total RE taxes paid (say $5000). 2d is the personal portion of RE taxes from Schedule E worksheet for principal residence, which is a portion of 2a as I have a room that I rent out (say $4500 as $500 is associated with the rental room). The total taxes (Schedule A, line 5b) is the total of these two, $9500. To me it looks like the portion associated with the principal residence is double counted.
Well I went ahead and installed updates and neglected to save my progress, so I had to enter everything all over again. When I did, this issue resolved itself...there was no double counting in the worksheet.
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henrypj
Level 2
KarenL
Employee Tax Expert
KarenL
Employee Tax Expert
KarenL
Employee Tax Expert
KarenL
Employee Tax Expert