Mortgage Interest

7 replies
53 views

Is something up with the mortgage interest tool? I added my interest and the program saves it but when it lists items for the sections, it shows a "0" for that line item. I go back in to that section and see the correct number there, run the program checker again and still have a "0" for the mortgage interest in the summary. Any ideas?

KathrynG3

Alumni - Intuit

Please double check that your details are fully entered. Was there a re-finance? Did you have more than one mortgage and one was a home equity line of credit? Depending on the dates of the mortgages, you may be affected by the new Tax Cuts and Jobs Act.

Deducting Mortgage Interest FAQ's is a good starting point. Answer the detailed questions as comprehensively as possible.

Awilliams1621

Level 2

I am having the same issue with the mortgage interest tool. I have looked my numbers over multiple times and they are correct. They say I am due a credit but it isn't carrying over when you hit continue. If this is not an issue with the tool, I am not sure what else is wrong. Has anyone been able to correct this?

MaryK4

Alumni - Intuit

If your standard deduction is higher than your itemized deduction, TurbiTax will automatically use the standard deduction.

@Awilliams1621

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Awilliams1621

Level 2

My itemized deductions are definitely higher so that was not the case. I used the advice of someone else on this topic regarding going to the forms page and overriding the column for mortgage interest and that finally did the trick. I think this needs to be corrected by Turbo Tax. That is a huge deduction for them to have an error on.

@MaryK4