My deductible home mortgage interest calculated on the "deductable home mortgage interest worksheet" does not match the value turbotax inputs on Schedule A line 8A.

[davidrosen14]

I am previewing my tax return. Turbotax calculated a value on the "deductible home mortgage worksheet" on line 17. The value on line 17 appears correct. For some reason, the value from line 13 reports up to schedule A line 8a and therefore the final calculations. Why is this?

[JamesG1]

Some TurboTax customers are experiencing an issue with their home mortgage average balance. This can cause the home mortgage interest to be incorrectly limited.  This may be affecting your tax return.

Please sign up for email notifications when an update related to this issue is available here.

See also this TurboTax Help.

[LKW999]

Is there a timeline on when this will be fixed? I am having multiple issues around interest deduction and 1098. The program is assuming that a loan that was sold is a separate property from the other 1098 (for the same property). I spent over 6 hours on hold and/or talking to someone on Saturday and the issue is still not resolved. The agent said they would call me back. They did not. They sent an email with information that was not useful and I can't reply to their email. Please advise how I fix this issue. I've been a Turbo Tax customer for over 5 years. I am extremely frustrated by this lack of assistance for an issue that is clearly yours.

[JohnB5677]

Some TurboTax customers are experiencing the following error message when running the Federal Error Check 

Check This Entry: Tax and Interest Deduction Worksheet: Limited Interest and Points must be entered

If you're experiencing  the error above,  please go here to receive email notifications when any updates related to this issue become available.

As a work around  you can consolidate the 1098's and get an accurate result.

• Total all of the Box 1 Mortgage Interest received .
• Use the entry in Box 2 Outstanding Mortgage Principal from the most recent mortgage.
• Total all of the Boxes 4 & 5
• Enter only the most recent mortgage points for Box 6.  (Any previous points will be deducted when those mortgages were closed.) 

[intervale]

Will there be an issue with the IRS if you only put in Box 2 the current mortgage?  Thx

[ReneeM7122]

No, while it is necessary to combine multiple 1098 forms, there will not be an issue with the IRS if Box 2 shows the current mortgage only.  The bottom line calculation is the same.  If there are any questions then you have both of your 1098 forms to present.

@intervale

[rheamonique]

This issue is still happening 1 year later, and the notification says "ETA February 17th." Am I to believe that Feb 17th was literally last year?

[AnnetteB6]

Take a look at the following TurboTax help article regarding your situation.  Click the link in the article to register your email and be notified with updates.

Why isn't my Deductible Mortgage Interest Worksheet available yet?

@rheamonique

[denik]

I have the same problem from this original post.  I'm using the desktop version of TurboTax for tax year 2021.  

In the "Deductible Home Mortgage Interest Worksheet", on line 20, I see a value of "$19,754" which seems correct.  I believe that value is supposed to be directly entered into Schedule A, line 8a.  However, on Schedule A, on line 8a, it's showing "$15,833".  Is that a bug?  Or am I missing something? 

[RaifH]

There were issues with the Deductible Home Mortgage Interest worksheet, but they have been fixed in subsequent updates. You may want to ensure that you are using the latest version of TurboTax Desktop by clicking on Online > Check for Updates. 

If you are using the latest version and the line 20 amount is not carrying over to Schedule A, please provide more details. How many 1098s are you working with? Are you using a portion of the home as a rental or a business expense? If so, is the missing amount on your Schedule C, Line 30 or Schedule E, Line 12?

@denik

[denik]

@RaifH - Thank you!  After reading your message, I see that the difference is due to the home office business expense.  So the missing amount seems to be included in the number on Schedule C, Line 30.