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Mortgage interest is not deducting. Software bug.

 
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5 Replies
Carl
Level 15

Mortgage interest is not deducting. Software bug.

Mortgage interest on personal use property, such as your primary residence is a SCH A itemized deduction. Until the total of all of your itemized deductions exceeds your standard deduction, itemized deductions will have no impact on your tax liability.

 

Mortgage interest is not deducting. Software bug.

Itemized deduction exceed standard deduction. Appears to be a software issue.

Carl
Level 15

Mortgage interest is not deducting. Software bug.

Did you take into account the limits for itemized deductions? there's a SALT limit (State and Local Taxes) of $10,000. Half that if married filing separate. Medical expenses have to exceed 7.5% of your AGI before they come into play. Take a look at https://www.irs.gov/newsroom/tax-reform-brought-significant-changes-to-itemized-deductions to see what other things can come into play here.

 

KrisD15
Employee Tax Expert

Mortgage interest is not deducting. Software bug.

You may choose to use the Standard Deduction OR Itemized Deductions UNLESS you are filing Married Filing Separately in which case you must use the same method as your souse is using. 

 

Some deduction amounts may be limited or adjusted as mentioned in the above post. 

 

To change n TurboTax 

type

 

standard deduction and exemption 

 

into the search box and hit enter on your keyboard

click the blue "jump to" link that appears

 

For an Online account, first click 

Tax Tools on the left side-bar

Tools on the drop-down that opens

Topic Search on the screen 

 

If your Home Mortgage Interest is limited and you don't know why, this IRS Interview may be of assistance. 

 

@teamhunt2015 

 

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Hal_Al
Level 15

Mortgage interest is not deducting. Software bug.

Just because you're not seeing the "refund meter" change, when you enter your mortgage interest doesn't mean it's not being accounted for.  You need to wait until all your deductions are entered and TT compares that to the Standard deduction. 

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