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Level 1
posted Sep 4, 2023 3:47:52 AM

Bug: TurboTax does not cap the mortgage interest deduction

I have a mortgage over $750k so I can't fully deduct the mortgage interest I paid from my federal tax return. The TurboTax website acknowledges this fact in one of the screens, but then still deducts the full amount of mortgage interest paid. 

 

Even when I manually correct the amount of deductible mortgage interest, it just ignores the number I enter and does not update the tax refund number at all (it should). 

 

I also confirmed this bug by looking at the printable PDF of the tax return. The "Deductible Home Mortgage Interest Worksheet" does the correct calculation but it never uses the calculated number in any other forms.

0 4 847
4 Replies
Level 15
Sep 4, 2023 9:20:53 AM
Level 1
Sep 4, 2023 5:40:20 PM

Ah you're right, it's the same issue. Hopefully it gets fixed in time for the October 16 deadline!

New Member
Apr 14, 2024 2:33:57 PM

this is still an issue - can TT please get back to us? 

Expert Alumni
Apr 15, 2024 12:13:47 PM

It would be helpful to have a TurboTax ".tax2023" file that is experiencing this issue to research further.

 

You can send us a “diagnostic” file that has your “numbers” but not your personal information.  If you would like to do this, please follow these instructions: 

 

In TurboTax Online, open your return, go to the black panel on the left side of your program and select Tax Tools

  1. Then select Tools below Tax Tools. 
  2. A window will pop up which says Tools Center.  
  3. On this screen, select Share my file with Agent
  4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number
  5. Reply to this thread with your Token number and tag (@) the Expert requesting the token from you. 
  6. Please include any States that are part of your return.  

We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution. 

 

If you are using TurboTax for Desktop, go to Online in the top menu, then choose "Send Tax File to Agent." On a Mac computer, choose File >> Share or Help >> Send to Agent.

 

@bkw88