Is The detailed 2018 mortgage deduction form misleadingly incorrect? It seems t o be following 2017 rules.

[LisaS]

If you had a fairly straight forward mortgage (home purchased before 12/20/17, principal less than $1,000,000 , all the funds used to purchase/improve/build the home) then there is not difference in your deduction.

[kathtax]

I calculated it myself  using the IRS form so it i correct  And it would have been different and incorrect had I relied on the Turbo Tax calculation as detailed in the forms to be saved for my records.  The 2018 allowance is smaller as it does not allow 100,000 for a HELOC.  Your form also does not acknowledge the decreased  limitation on more recently acquired mortgage debt

[LisaS]

It should have guided you thru the same questions in the interview to correctly calculate the limits.

[kathtax]

The amount is incorrect.   Really, a big mistake on your part.  This should have been updated.  I do the calculation by hand since traditionally TT hasn't done this.  And its wrong this year if anyone has a Heloc.