topic Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599 in Deductions & credits

Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

doncamp1560 — Tue, 01 Sep 2020 20:58:34 GMT

Re: Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

AmeliesUncle — Wed, 02 Sep 2020 00:10:32 GMT

Look at the actual Form 8829 (not a worksheet). Do the numbers on Lines 10 and 16 seem correct? If not, what seems wrong?

Re: Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

doncamp1560 — Wed, 02 Sep 2020 00:15:49 GMT

Thanks I figured it out. On my last home refi I took some cash and paid off some outside debt. Long story short when I went in and manually changed the excess mtg % down by the amount that I was not allowed to write off... it zeroed out the negative number. Thanks for the reply

Re: Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

bjkjksjdsj — Mon, 11 Apr 2022 21:45:15 GMT

I still dont understand??

This is happening to me, and Im unable to manually edit that particular field.. which is negative for some reason (line 10 of 8829)

Re: Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate...

RobertB4444 — Tue, 12 Apr 2022 21:37:00 GMT

@bjkjksjdsj If you are filing single or married-filing-jointly then the amount of mortgage interest that you are allowed t take a deduction on is the amount related to $375,000 in mortgage debt. If your home is worth more than that (or $750,000 if you're married filing joint) then TurboTax will attempt to adjust the interest deduction for you. As @doncamp1560 says above you may have to manually adjust it.