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Level 2
April 11, 2020
Question

Mortgage Interest

  • April 11, 2020
  • 5 replies
  • 40 views

I have deductible mortgage interest that allows me to itemize. When I got to the very end of the return, while it was "fixing errors", it took away the mortgage interest which changed my return to use the standard deduction.

I went back through the mortgage interest section again. When I check the box that says the mortgage debt is for a loan under $750k, it seems like it corrects itself. Then as soon as I hit "done", it goes back to disallowing it again.

I've tried this a dozen times and am beyond frustrated.

Any help or ideas would be appreciated.

 

Thanks.

5 replies

KathrynG3
Level 14
April 11, 2020

Yes, this is fixable. First, I recommend deleting your Form 1098 that was entered. To do this in TurboTax, follow these steps:

For TurboTax Online:

  • From the left menu, select Tax Tools>
  • Tools>
  • Delete a form

For TurboTax CD/Download:

  • From the Forms mode, type in 1095-A
  • Scroll to the state entry, highlight it and click Open Form
  • At the lower corner of the window, click Delete this form

Then, I recommend doing some technical housekeeping before proceeding. It may sound too simple to make a difference, but it does make a difference.

For TurboTax Online:

  • Sign out of TurboTax
  • Close the browser Window
  • Wait a minute
  • Open an incognito Chrome Window
  • Sign In to TurboTax

For TurboTax CD/Download:

Lastly, return to the Deductions & Credits page and re-enter Form 1098. 

@Chuck Freedman

 

 

Level 2
April 11, 2020

Great. Thanks a lot.