https://ttlc.intuit.com/community/taxes/discussion/mortgage-interest-deduction-limit/01/2071761#M745587 <P>I understand that there is a limit of $750,000 (married filing jointly) on mortgage debt for mortgage interest deduction thanks to the&nbsp;<SPAN>Tax Cuts and Jobs Act. My question is if the debt is higher than $750k, can we still partially deduct interest for debt up to $750k? My debt is higher than 750 and TurboTax decides that I ineligible for this and recommends that I take the standard deduction. Is there any way that I can at least deduct part of the interest that I paid?</SPAN></P> Sat, 13 Mar 2021 04:54:43 GMT kian_ja 2021-03-13T04:54:43Z https://ttlc.intuit.com/community/taxes/discussion/mortgage-interest-deduction-limit/01/2071761#M745587 <P>I understand that there is a limit of $750,000 (married filing jointly) on mortgage debt for mortgage interest deduction thanks to the&nbsp;<SPAN>Tax Cuts and Jobs Act. My question is if the debt is higher than $750k, can we still partially deduct interest for debt up to $750k? My debt is higher than 750 and TurboTax decides that I ineligible for this and recommends that I take the standard deduction. Is there any way that I can at least deduct part of the interest that I paid?</SPAN></P> Sat, 13 Mar 2021 04:54:43 GMT https://ttlc.intuit.com/community/taxes/discussion/mortgage-interest-deduction-limit/01/2071761#M745587 kian_ja 2021-03-13T04:54:43Z https://ttlc.intuit.com/community/taxes/discussion/re-mortgage-interest-deduction-limit/01/2096402#M754496 <P>You can deduct the mortgage interest associated with the loan amount up to the $750,000 as an itemized deduction. However, you can't use your itemized deductions <U>and</U> your standard deduction, you have to choose the one that gives you the higher deduction.</P> <P>&nbsp;</P> <P>&nbsp;</P> Wed, 17 Mar 2021 03:36:11 GMT https://ttlc.intuit.com/community/taxes/discussion/re-mortgage-interest-deduction-limit/01/2096402#M754496 ThomasM125 2021-03-17T03:36:11Z