2019 Limit Deductible Mortgage Interest Question N... - Page 2
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jake93
Level 3

2019 Limit Deductible Mortgage Interest Question Not working?

I haven’t filed my return. My return has passed all the error screens and is ready to submit. 

pugpapa75
Level 3

2019 Limit Deductible Mortgage Interest Question Not working?

Support reached out to me and I sent in a diagnostic file.

Kat
Level 15
Level 15

2019 Limit Deductible Mortgage Interest Question Not working?

@pugpapa75 Thank you so much!  Maybe TT can figure out what's going on and fix it!

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
MichNoah
Level 2

2019 Limit Deductible Mortgage Interest Question Not working?

Yes, I successfully e-filed after I change the box in the Forms entry.

 

By the way, no one mentioned it but I once spent an hour typing the details of the DATES that one loan was paid off and then the new loan started, thinking that would tell the program that it's the same loan.  That did not work. 

 

Only the forms entry checkbox change worked.

moorek
New Member

2019 Limit Deductible Mortgage Interest Question Not working?

All,

 

I was having this same problem. Kept applying the limit (adding I think the original and refi amounts) and then putting me into a standard deduction. To fix it what worked for me was that at the point where I was asked if the limits apply, I said "no." But, I did not click "continue" but instead saved the file and exited TurboTax. Then reopened it and went onto the next section manually. This got me all the way through federal and state checks and it is ready to efile. Haven't done that yet as this is my first pass through and I like to come back a week later and re-check everything. But I think it got me past the problem.

AndyT83
Level 1

2019 Limit Deductible Mortgage Interest Question Not working?

I am having the exact same issue.  I have 3 1098's, first is the original loan, second is the refinanced loan, and third is the bank my loan was sold to.  Every time I get to the question about limiting mortgage interest if these situations apply to me it defaults to Yes, but I select No and I get the error that "Limited interest and points must be entered" on the Mortgage Interest Limited Smart Worksheet.

Shannon Hayes
Level 1

2019 Limit Deductible Mortgage Interest Question Not working?

In 2019 My mortgage company sold my loan.  I also did a refinance.  I did not pull out any money.  When i enter in all three 1098s it shows that I owe 3,600 federal and get back right at 4k state, so I am $350 to the good.  However, in error check process it wants me to check limited interest box and then changes my return to owing 8,800 and only 2k return state.  I have had to delete two files and start over and the exact thing happens each time.  It is adding the three loan values together and so it looks like my home is over a million when it is only 414k.  In looking at message boards many others are having this issue.  Do you know when this bug will be resolved? 

DianeC958
Expert Alumni

2019 Limit Deductible Mortgage Interest Question Not working?

When you enter the information for the second and third 1098 forms into TurboTax the amount in Box 2 needs to be $0 for both 1098 forms.  Box 2 is asking for the outstanding balance for the loan as of 01/01/2019 for both the sold loan and the refinanced loan the amount is $0.

 

Once you have change this information in TurboTax it will not limit the amount of mortgage interest you can deduct.

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Kat
Level 15
Level 15

2019 Limit Deductible Mortgage Interest Question Not working?

@DianeC958 Users have reported that TT program will not accept a value of -0- in Box 2.  One other user has entered a $1 value in Box 2 for subsequent 1098's entered after the first one.  I "think" they were able to successfully e-file.  What do you think about this resolution so these folks can get their returns filed?  Thank you!

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
jake93
Level 3

2019 Limit Deductible Mortgage Interest Question Not working?

Box 2 is the loan balance as of 1/1/19 or the acquisition date. It is possible for more than one of the 1098s to have a dollar amount greater than zero in box 2.  Personally, I prefer the information I enter to match the actual 1098. 
I completed and efiled my return with the work-around posted in this thread. 

I hope TT actually listens and fixes the issue. 

 

AndyT83
Level 1

2019 Limit Deductible Mortgage Interest Question Not working?

I am not a tax professional but I am not sure entering something different than the 1098 is the correct solution here.  I think that is the reason there is a followup question after entering the 1098s to see if the mortgage interest limit really applies to you....but due to a bug in the program its not working correctly.  It seems like the easiest thing would be to just fix the bug.  Has anyone heard from TurboTax on if they are working on this issue?

Kat
Level 15
Level 15

2019 Limit Deductible Mortgage Interest Question Not working?

@AndyT83 Even with users submitting diagnostic files, it seems TT has been unable to duplicate the error.  (I don't get it).  I'm linking below another thread where users are experiencing the same issue and some have offered workarounds.  Since TurboTax hasn't published an official workaround, I can't offer an official solution.  But you may be able to complete your filing with something you find here. 

 

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-how-to-enter-two-or-more-1098...

 

I'm sorry for the frustration.  

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
irishstevenson
New Member

2019 Limit Deductible Mortgage Interest Question Not working?

This is a definite error in TT.  I am having the same issue.  My loan was sold to a different lender.  I enter in both 1098's accurately.  TT error check wants me to enter in limit/int points.  I was really confused.  It ended up dropping me down to standard deduction, which will make a difference of $3k.  It seems to want to combine my two 1098's into a total mortgage over the threshold even though the actual mortgage is only about $500k.  What's worse is that trying to troubleshoot it out on my own (thinking I messed up somewhere) has screwed up my return to the point where I think I'm going to have to start my return all over from scratch.  I was all ready to file and the error check made me go back to "fix" a perceived problem in my return, which was really just an error in TT's software.  Otherwise it would have been ready to file.

pugpapa75
Level 3

2019 Limit Deductible Mortgage Interest Question Not working?

I’m really not understanding the problem at this point.  With all the diagnostic files that have been submitted, TT should have some idea what’s going on.  At this point, I’m giving them another week to get their act together or I’m switching products.  I’ve been a loyal TT customer for 15 years but this is unacceptable!

VictoriaD75
Employee Tax Expert

2019 Limit Deductible Mortgage Interest Question Not working?

There is a workaround for this. 

 

For desktop versions:

  • In Forms view, locate and click on Tax & Int Wks on the left from the forms list
  • On the form, scroll to Mortgage Interest Limited Smart Worksheet
  • Click on NO to the right of the question, Does your mortgage interest need to be limited

For online versions:

  • Under Deductions & Credits, expand the menu for Your Home
  • Click Start/Revisit next to Mortgage Interest and Refinancing (Form 1098)
  • Click through until you get to a screen that says Do any of these situations apply to you? Mark Yes.
  • On the next screen, take out the zero.
  • Click back and choose No.
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