I cannot get past complete check due to an issue regarding my mortgage interest and deduction worksheet. It’s saying limited interest and points must be entered. I’m using the online version

[Lhill4691]

Is there any work around for this? Everyone online is saying I have to pay for the cd version and I can correct this on the forms version but I don’t want to pay for that I don’t have a comp

[Cynthiad66]

You will be able to correct this error without upgrading as long as this is just Mortgage Interest  deduction.  Please try this.

Return to the screen that asks if the interest should be limited, answer Yes. 

On the next screen, adjust to the full amount if the interest is NOT limited (or adjust to the proper amount if it is).

Please go back to the Home Mortgage Interest section:

Click Federal on the left side-bar

Click Deductions & Credits along the top

Scroll down to “Mortgage Interest and Refinancing (Form 1098)” Click Edit/Add

Scroll down the “Here’s your 1098 info” screen and click Done.

Next screen asks “Do any of these situations apply to you?” Select “Yes, one or all of these situations apply to me.” and Continue.

On the following screen, you will see the “Original amount”.

Enter the amount you can claim as a Home Mortgage Interest deduction in the “Adjusted amount” box.

The Adjusted amount cannot be larger than the original amount or you will receive an error when trying to file. Instructions on who needs to adjust interest and how to calculate are available by clicking the blue

“Help me figure this out” link.

The available “original” amount should only be adjusted for any cash out not used on the home, and that amount cannot be claimed for the Federal deduction. 

[kderickson]

I am having the same issue, however I cannot find the screen that asks if the mortgage interest should be limited.  I clicked on "edit/add" on Mortgage Interest and Refinancing, but only see a continue box, and not done.  If I click on continue, I do not get the question “Do any of these situations apply to you?”.  Instead it returns to the main Deductions & Credits screen.

[Lhill4691]

Yes I am having the same issue I cannot find a work around I'll probley just have to order the CD...

[Lhill4691]

Thank you, however this doesn't work for me it doesn't give me the following option:

( Next screen asks “Do any of these situations apply to you?” Select “Yes, one or all of these situations apply to me.” and Continue.)

I see no work around for this I'll probley just have to order the CD however this is something Turbotax needs to fix as many have had the same issue with refinancing. If I haven't been with them for 7 years I'd go somewhere else. 

[DMarkM1]

Entering multiple Forms 1098 may be causing an issue for you.  At the present time, this is a known issue with Turbo Tax. Some TurboTax customers are experiencing an issue with their Home Mortgage Average Balance. This can cause in the the Home Mortgage Interest to be incorrectly limited.

If you're experiencing  the issue above,  please go here to receive email notifications when any updates related to this issue become available.