Mortgage Interest

[ncwcu]

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]

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]

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]

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

@Awilliams1621

[Awilliams1621]

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 

[BettiBopper]

As of today, Turbo Tax has not corrected the mortgage interest section.  Totally agree with you - HUGE error on their part.   Had I not compared federal to California state I would not have known about this error.

Frustrating!

[jzheng2011]

Same issue here. It should be a bug. The answer from the "Expert" doesn't solve anything. Hope they can resolve it sooner.

[VictoriaD75]

There is a workaround for this. 

For desktop versions:

• In Forms view, locate and click on Tax & Int Wks on the left from the forms list
• On the form, scroll to Mortgage Interest Limited Smart Worksheet
• Click on NO to the right of the question, Does your mortgage interest need to be limited

For online versions:

• Under Deductions & Credits, expand the menu for Your Home
• Click Start/Revisit next to Mortgage Interest and Refinancing (Form 1098)
• Click through until you get to a screen that says Do any of these situations apply to you? Mark Yes.
• On the next screen, take out the zero.
• Click back and choose No.