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rick1969
Level 2

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

I had to self-calculate my mortgage interest limits but got all that completed and then I keep getting this.
2 Best answer

Accepted Solutions
LinaJ2020
Employee Tax Expert

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

The issue has been submitted and is currently under investigation.  Please click on the following link and sign up for an email notification when it's fixed.  

 

Home Mortgage interest being limited

 

Thank You for your patience. 

 

Your deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status) for tax years prior to 2018. Beginning in 2018, this limit is lowered to $750,000. Mortgages that existed as of December 14, 2017 will continue to receive the same tax treatment as under the old rules.

For tax years before 2018, you can also generally deduct interest on home equity debt of up to $100,000 ($50,000 if you're married and file separately) regardless of how you use the loan proceeds.  For details and learn more, click here: Home mortgage interest limitation

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LinaJ2020
Employee Tax Expert

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Here is the workaround solution:

 

If you have more than one 1098 form, I will recommend you to combine all 1098 forms and enter as one.  I am attaching a TurboTax link for the instructions how to do claim your mortgage interests.  Click here:

 

Multiple Form 1098s

 

For tax years prior to 2018, your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status). Beginning in 2018, this limit is lowered to $750,000.  For more information about the mortgage interest deductions, click here: Mortgage Interest deduction

 

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View solution in original post

22 Replies
LinaJ2020
Employee Tax Expert

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

The issue has been submitted and is currently under investigation.  Please click on the following link and sign up for an email notification when it's fixed.  

 

Home Mortgage interest being limited

 

Thank You for your patience. 

 

Your deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status) for tax years prior to 2018. Beginning in 2018, this limit is lowered to $750,000. Mortgages that existed as of December 14, 2017 will continue to receive the same tax treatment as under the old rules.

For tax years before 2018, you can also generally deduct interest on home equity debt of up to $100,000 ($50,000 if you're married and file separately) regardless of how you use the loan proceeds.  For details and learn more, click here: Home mortgage interest limitation

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

AGray44
Level 1

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Is there any idea when this issue may be resolved?  I'm having the same problem and did 2 live chat's and one phone call before I found this support form.  No one had a clue what to do.  Thanks

DaveF1006
Employee Tax Expert

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Some TurboTax customers are experiencing an issue with their Home Mortgage Average Balance. This can cause in the the Home Mortgage Interest to be incorrectly limited.

 

If you're experiencing  the issue above,  please go here to receive email notifications when any updates related to this issue become available. At the present time, we do not have an ETA on when this will be resolved.

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rick1969
Level 2

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Super...

JoannaB2
Expert Alumni

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

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.

 

 

AGray44
Level 1

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

I was sent an email this morning stating this issue was fixed in Turbo Tax Live it the system would update itself.  It stills remains present and I'm unable to to E-file.  I deleted all 1098 forms and re-entered them hoping that would help, but the same message continues to populate every time I try to file.  

 

What is my next step?

andysim1
New Member

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

I am at the same point exactly. I cannot e-file because of that. And I am getting an email that the issue has been resolved.  I had already 5-6 calls on the issue, but it continues (despite optimistic email)

LinaJ2020
Employee Tax Expert

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Here is the workaround solution:

 

If you have more than one 1098 form, I will recommend you to combine all 1098 forms and enter as one.  I am attaching a TurboTax link for the instructions how to do claim your mortgage interests.  Click here:

 

Multiple Form 1098s

 

For tax years prior to 2018, your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status). Beginning in 2018, this limit is lowered to $750,000.  For more information about the mortgage interest deductions, click here: Mortgage Interest deduction

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

scjms
New Member

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

If turbo tax can't provide a product that works then it needs to be sold at a discount.

jjlt22
New Member

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 9-945-263
 
 Not sure what this reference code means, not sure if it is the same as above; but it is very frustrating that I can not finish my taxes.
 
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TerukoL
Intuit Alumni

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Please click What do I do if I have multiple 1098s from refinancing my home debt? to learn how to resolve the reference codes. 

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adthom289
Returning Member

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Why is this taking so long to fix?  I've been waiting almost a month.  I have to file State in a couple weeks.  No extension with the State.  I will be switching to H&R BLOCK for next year unless this is fixed immediately.  Get the right IT people to work on it. 

   

HeatherPLO
Intuit Alumni

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

Please see the Help Article here for more details and instructions on how to get through this error.  

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adthom289
Returning Member

Not sure what to do about this? Deductible Home Mortgage Interest Wks: Your calculations could not be completed. Reference code: 7-532-468

I tried the hot fix, deleted my 1098's and re-entered but still can't e-file.  This is totally unacceptable and disappointing with the way TurboTax is responding.  I do not hear anything from TurboTax.  Thinking about contacting the Better Business Bureau as well as requesting a refund.   

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