I have 32K in loan interest and Turbo Tax will not accept it or roll me out of the standard deduction

Forum|Forum|5 years ago
October 14, 2020
2 replies
12 views

I've gone through the interview multiple times. I actually refinanced on 12/30/2019. Turbo tax is not accepting the data shown in the 1098 section and is giving me a standard deduction. Load interest (33K), taxes (greater than 10K but limited) , and about 5K of donations, should give me a schedule A deduction of 48K, which is greater then the standard 24K. Turbo tax is not doing it.

TurboTax Business Windows

xmasbaby0

Level 15

You are posting from TurboTax Business----which can only be used for a corporate return for a C-corps, S corps or multimember LLC or partnership return. You cannot use TurboTax to prepare a Form 1040 for an individual tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Critter-3

Level 15

If you are completing a 1040 using a person tax program then are you filing separately ? If so did you indicate in the MY INFO tab that your spouse will take the standard deduction ? If so that is your issue.