topic Mortage interest state or federal? in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/mortage-interest-state-or-federal/01/679193#M89313 can I claim mortgage interest on state and federal, or just one or the other? Thu, 06 Jun 2019 11:06:23 GMT mike14586 2019-06-06T11:06:23Z Mortage interest state or federal? https://ttlc.intuit.com/community/tax-credits-deductions/discussion/mortage-interest-state-or-federal/01/679193#M89313 can I claim mortgage interest on state and federal, or just one or the other? Thu, 06 Jun 2019 11:06:23 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/mortage-interest-state-or-federal/01/679193#M89313 mike14586 2019-06-06T11:06:23Z You generally only claim an itemized deduction for mortga... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-generally-only-claim-an-itemized-deduction-for-mortga/01/679197#M89314 <P>You generally only claim an itemized deduction for mortgage interest paid on your principal residence (and a second home) on Schedule A of your federal income tax return, on Line 10 if reported to you on Form 1098, or on Line 11 if not reported to you on Form 1098. &nbsp;Most state returns do not include a similar deduction for home mortgage interest. &nbsp;</P><P>The tax systems are separate and distinct - federal under the IRS, and state, under the respective state's department of revenue - it is possible that your state allows for a home mortgage interest deduction on the state return, even though the IRS permits such a deduction on Form 1040 Schedule A. &nbsp;</P><P>TurboTax automatically&nbsp;transfers data from your federal return, which you entered in the Federal Taxes section.</P><P>You should always try to ensure that you enter your data, and answer the program interview questions as accurately as you can, so the information flows accurately into TurboTax State.</P><P> </P><P>Please note though, as mentioned above, that each state has its own rules with respect to taxation of income and allowable deductions and credits.&nbsp;</P> Thu, 06 Jun 2019 11:06:25 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-generally-only-claim-an-itemized-deduction-for-mortga/01/679197#M89314 JohnR1 2019-06-06T11:06:25Z
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topic Mortage interest state or federal? in Deductions & credits
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can I claim mortgage interest on state and federal, or just one or the other?
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https://ttlc.intuit.com/community/tax-credits-deductions/discussion/mortage-interest-state-or-federal/01/679193#M89313
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can I claim mortgage interest on state and federal, or just one or the other?
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You generally only claim an itemized deduction for mortga...
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https://ttlc.intuit.com/community/tax-credits-deductions/discussion/you-generally-only-claim-an-itemized-deduction-for-mortga/01/679197#M89314
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<P>You generally only claim an itemized deduction for mortgage interest paid on your principal residence (and a second home) on Schedule A of your federal income tax return, on Line 10 if reported to you on Form 1098, or on Line 11 if not reported to you on Form 1098. &nbsp;Most state returns do not include a similar deduction for home mortgage interest. &nbsp;</P><P>The tax systems are separate and distinct - federal under the IRS, and state, under the respective state's department of revenue - it is possible that your state allows for a home mortgage interest deduction on the state return, even though the IRS permits such a deduction on Form 1040 Schedule A. &nbsp;</P><P>TurboTax automatically&nbsp;transfers data from your federal return, which you entered in the Federal Taxes section.</P><P>You should always try to ensure that you enter your data, and answer the program interview questions as accurately as you can, so the information flows accurately into TurboTax State.</P><P> </P><P>Please note though, as mentioned above, that each state has its own rules with respect to taxation of income and allowable deductions and credits.&nbsp;</P>
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