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Adjusting the mortgage interest deduction

When I first entered my 1098s, at some point TurboTax asked me to manually calculate and enter an adjustment to my mortgage interest deduction, based upon the ReFi being over $750,000. I have now read that because the ReFi is of a mortgage that existed before Dec 2017, it is grandfathered to the full amount.

 

How can I change the mortgage interest deduction amount back to the full amount of the interest paid? I can't find it. I even deleted the 1098s and re-entered them but somehow TT is still holding onto my original amount.

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Accepted Solutions

Adjusting the mortgage interest deduction

I managed to solve this problem myself, after seeing someone else with a PC version of the software talk about going to Forms mode and editing the form directly.

 

I found under Tools that I could DELETE the interest deductions worksheet. This prompted TT to ask me again as part of Federal review.

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2 Replies

Adjusting the mortgage interest deduction

I managed to solve this problem myself, after seeing someone else with a PC version of the software talk about going to Forms mode and editing the form directly.

 

I found under Tools that I could DELETE the interest deductions worksheet. This prompted TT to ask me again as part of Federal review.

KathrynG3
Expert Alumni

Adjusting the mortgage interest deduction

Yes, you are correct! 

See below for a Video: Deducting Mortgage Interest and Property Tax to know more about the rule changes.

 

IRS Publication Home Mortgage Interest Deduction 

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