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eagle
Returning Member

Why am I not being credited my mortgage interest when selecting itemized deductions.

I have selected "itemized deductions" however, I noticed my mortgage interest shows a zero on the summary.  Why am I not being credited that deduction?

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5 Replies
eagle
Returning Member

Why am I not being credited my mortgage interest when selecting itemized deductions.

I understand the increase, but our net deductions exceeds the standard. Either way, I should be able to choose between the standard and itemized deductions. When I choose itemized, the summary shows zero for mortgage interest.  The other itemized categories are populated with the exception of the mortgage interest category.

Why am I not being credited my mortgage interest when selecting itemized deductions.

The recent changes in 2018 may have resulted in the standard deduction being more advantageous to you. Starting in 2018 the standard deduction is as follows:

Single/Married Filing Separate- $12,000

Head of Household- $18,000

Married Filing Joint- $24,000

Based on your filing status above, are your itemized deductions higher? If your standard deduction is higher TurboTax would utilize that vs itemizing.

eagle
Returning Member

Why am I not being credited my mortgage interest when selecting itemized deductions.

I selected "itemized dedications". The summary lists all deductions with the exception of the mortgage interest.

Why am I not being credited my mortgage interest when selecting itemized deductions.

Ok  your mortgage interest may be limited if your mortgage is more than $750,000  or $375,000 (Married Filing Separately). Please see the following link. <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tips/home-ownership/deducting-mortgage-interest-faqs/L4a9KF9mI#limit...>
eagle
Returning Member

Why am I not being credited my mortgage interest when selecting itemized deductions.

Our mortgage is below $300,000 and we are filing married/joint. It is our primary residence. Why is this the only field in the summary with a zero?
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