Under Mortgage Interest, Refi, and Ins amt shown “$8,148”. “Home Loan Deduction Summary” Interest $5,731.18 and Points $161 total $5,892.18. ? $2,256 difference?

[JBH0 · Accepted solution]

What is "Ins"?  Insurance?  Home insurance is not deductible.

[oletomscw]

I apologize that my letter cuts because of typed character limits caused confusion. Turbotax Deluxe online. Under “Your 2017 Deductions & Credits”, “Your Home”, “Mortgage Interest, Refinancing, and Insurance” amount shows $8,148. Questioning this amount, I click on the [Update] button and am returned to the “Home Loan Deduction Summary that displays correctly Interest of $5,731.18 and Points of $161 total $5,892.18. I do not understand the $2,256 difference, if it is correct and if not correct, how to change it. Thank you

[JBH0]

When you say insurance, is that your home insurance?  Is the 2256 happen to equal the annual amount of your home insurance?  Again, if so, home insurance is not deductible.  Otherwise not knowing exactly what you have entered I can’t speak to the difference, unless the difference is one time refinancing costs that either aren’t deductible or else are amortized over the life of the loan.

[oletomscw]

No it is not home insurance. I kludged to the correct response.

[oletomscw]

Item closed