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dschorow
New Member

Mortgage Interest limitation via EasyStep?

I use the Desktop TurboTax Premier (MacOS) and do my taxes with EasyStep. The EasyStep interview asks about my mortgage interest, but not about my mortgage balances (on two homes). So I don't see how it can apply the mortgage interest limitation. Do I have to use Forms mode to compute this limitation? How would one even know that they would need to go into Forms mode?

 

 

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1 Reply
rjs
Level 15
Level 15

Mortgage Interest limitation via EasyStep?

On the screen where you enter the Form 1098 for each mortgage, you should have entered the outstanding mortgage principal (i.e. the mortgage balance) in box 2. See the screen shot below. Then TurboTax will compute the limitation. Unfortunately, if you omit the outstanding mortgage principal TurboTax does not flag it as an error. But it does ask about it by providing the box for the entry.

 

Form 1098.png

 

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