My mortgage interest is not counted as a deduction and is showing as $0 even though I entered it as a number. The mortgage is secured by the property. How can I fix it?

Check to be sure that it is not being limited if you have more than one 1098 entered.

 

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, after entering the 1098 interest information, continue through the screens and TurboTax will ask you if the interest needs to be limited.

 

 

I think this is exactly what's happened, thank you so much for all the steps to fix it! Unfortunately I can't see all the screens you are posting here. I deleted and re-entered the 1098s multiple times and I still can't see these questions/selections. Any ideas on how to get to them? 

 

Others have had the same problem and they said to clear everything and start over but I've put so much work into it, I'd prefer not to do that.

I'm having the same problem, did you find a fix by chance?

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@nkerns5 wrote:

I'm having the same problem, did you find a fix by chance?

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Try 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.

I think that when you are in the step by step area to enter the mortgage information, the box to check Yes or No, Does your mortgage interested need to be limited?  is not there and the answer defaults to Yes. If you go to the Tax Deduction Interest Worksheet to the Mortgage Interest Limited Smartsheet section, you will see the box is checked Yes. Switch it to No and watch your tax liability go down. Note that once checked no, the section is gone in the step by step area.