2019 Limit Deductible Mortgage Interest Question Not working?

[wemismith]

This solution fixed my problem.  Thanks!

[Kat]

@wemismith HOORAY!  Everyone, see @VictoriaD75 's solution that worked for one user!

[jake93]

@VictoriaD75 this workaround was suggested on Jan 23rd by another user. When is was suggested TT said if a form is manually changed it voids any TT guarantee. Would you be able to clarify this information?

Is TT going to actually fix the bug?

[KrisD15]

Do not alter the 1098. Enter the 1098(s) as reported. Box 2 should not be blank. Box 2 is the balance of the loan on 01-01-2019 OR the balance on the day the loan was taken out in 2019. Answer the interview questions carefully.

If you get an error concerning the balance, please follow these directions:

ONLINE USERS:

Please go back to the Home Mortgage Interest section:

Click Federal on the left side-bar

Click Deductions & Credits along the top

Scroll down to “Mortgage Interest and Refinancing (Form 1098)” Click Edit/Add

Scroll down the “Here’s your 1098 info” screen and click Done.

Next screen asks “Do any of these situations apply to you?” Select “Yes, one or all of these situations apply to me.” and Continue.

On the following screen, you will see the “Original amount”.

Enter the amount you can claim as a Home Mortgage Interest deduction in the “Adjusted amount” box. The Adjusted amount cannot be larger than the original amount or you will receive an error when trying to file. Instructions on who needs to adjust interest and how to calculate are available by clicking the blue “Help me figure this out” link.

DESKTOP USERS:

Go into Forms (top right)
Enter the amount on Tax & Int Wks
Mortgage Interest Limited Smart Worksheet section
Line A2

OR

Step by Step

Federal

Deductions & Credits

Mortgage Interest, Refinancing and Insurance Click Update

Click Done

Click Yes, one or both of these situations apply to me. And Continue

Enter the Adjusted amount and Continue

[Papascrubs]

I feel you!  This is what happened to me.... I think I started my return at 1 and should have been done at 2 30 at the latest ..... after all the trouble shooting I was done at 630 PM.....  Im not happy...

[Papascrubs]

This only works if you do not hit continue after you do this.  You have to then go to another form from the list at the top.

[Papascrubs]

But why would you click yes if your loan amount is under the threshold?  TT is adding the the refi to to the original loan and putting people over the limit.

[jake93]

@Papascrubs  my question exactly   @KrisD15 why should a filer check the “yes” box when correct answer is “no”?

[Papascrubs]

I just spend 10 hours trying to fix this issue of the home loan interest and refinancing with 2 lenders and 2 loans being purchased by another bank.  The Turbo tax assistant who I called said it is an obvious bug but we got cut off before she remedied it.  Im tired of working on it-

This is how I solved it.....  A -you can do it with the forms and not use easy steps but this is time consuming and complicated.  B- When you get to the yes my loan is over 1mil or no it does neither of these situations apply you can leave the no box checked and NOT hit continue.  Instead just click on deductions on the top and continue onto the next section.  Error check will pass and it may ask for an amount of the loan in one where the 1098 was left blank.  Just put 0.  It may ask for total fair value of home, you can enter that amount as you know or from your last appraisal.   WOW I hope Intuit fixes this Turbo tax problem.  Also as a side note if you call support and you have a mac there is a great chance they will not be able to see your screen with the 1st method they try.  There is another method called Glance which my first support rep did not know about so she hung up on me.  Make sure they try the 2nd method for you to see your screen and help with the turbo tax issue for FY 2019.

[JotikaT2]

Entering "no" is a way to allow you to file.  

As long as you know and have proof to show that the amount is below the threshold for the limit, your return would be fine to file.

Mortgage deduction rules

[LSomers1956]

Thank you! How would anyone figure this out on their own?

[sir strawberry]

I finally found out how to fix this. For Turbo Tax Online:

1. Go to Forms

2. Select "Delete Forms"

3. Delete "Tax and Interest Deduction Worksheet"

This should reset things (and maybe more) but will get you unstuck.

[Hoyden]

Where do you find Forms on the online version???

[DoninGA]

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@Hoyden wrote:

Where do you find Forms on the online version???

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Using the TurboTax online editions there is no direct access to any forms, schedules or worksheets.  That option is only available when using the desktop CD/Download editions.

[theurbanartisans]

I have the same issue....that is causing the system to not itemize or include it.