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If I have 24000 mortgage interest, why is it not being used on my tax return. Is this part of the tax law change?

 
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2 Replies

If I have 24000 mortgage interest, why is it not being used on my tax return. Is this part of the tax law change?

Is any of that for a rental property?
JulieCo
New Member

If I have 24000 mortgage interest, why is it not being used on my tax return. Is this part of the tax law change?

It depends.  The new tax reform laws that began in 2018 did restrict the ability to deduct mortgage interest (see more information for the criteria to be able to deduct in the FAQ below), but if all of your mortgage interest is being excluded on your return, double check the entry of your 1098 forms as to whether the selection is marked that your mortgage is secured by a property, as if this is marked NO then the entire amount of interest will not be included as an itemized deduction.  See the sample screenshot below.

https://ttlc.intuit.com/replies/3300473


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