I entered my mortgage interest the same way as last year. Last year it recommends to use itemized deductions. this year's situation is similar, however it recommends using standard deductions. The reason is simply because mortgage interest is considered 0 at the summary page.
I am using turbotax premier.
You'll need to sign in or create an account to connect with an expert.
Last year, the deductions are like: 10,000(for state income tax and real estate tax) + mortgage interest
This year, it is only the first part. I double checked the mortgage interest part, it did say, I get the deduction. But in the summary page, it shows 0, and the total itemized deduction is on 10,000
Please go back in to edit the 1098. Pay special attention to boxes 7 and 8. Also check the outstanding mortgage balance.
Box 7 is checked, and it did say: [And I tried it quite a few times checked or unchecked]
"
Congratulations, you get a tax break.
you are getting a deduction of xxxxx for the mortgage interest you paid.
"
But after I clicked "Done with deductions", after it did the analyzing, it went to the summary of my 2018 and 2019 deductions & credits. 2018 is there because I imported it. It is clearly comparison. Itemized deduction is 0 for "Mortgage Interests".
Two differences :
1) last year I used windows version, this year it is Mac version.
2) this year because of refinance (a very regular refinance, no cash out), there are two extra 1098. Just one refinance, but the bank quickly sold it to another one. All have box 7 Checked.
Is there any software bug here. I also saw other people complaining the same.
The problem may occur if you have refinanced during the year, and the input reads your data as exceeding the $750,000 limit to be deductible.
If you are working in the Desktop version, you can try the following as provided by jmcglass.
If you are working in the online version, please go back to deductions and credits and mortgage interest.
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".
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
afernandezcmu
New Member
njlady1024
New Member
hgomez23
New Member
whataboutzepa
Level 2
scottmia232
New Member