I have a house with loan more than 750000 and the federals is capping the interest to that amount of the loan. I am trying to adjust the mortgage interest for state of California but I cant find this in TurbTax for desktop.
When I reach this section "Here's the Income that California Handles Differently" , I dont see anything related to mortgage interest.
How can I adjust the mortgage interest for California? My understanding that it should appear at the end int he form CA 540.
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When you enter the information on your Federal return, TurboTax will automatically calculate the deduction on CA return based on the state rules.
To visit that screen:
Thanks for your answer but I don’t see “Mortgage Interest Adjustment” in the desktop version. Is there a reason why this is not shown?
Hello,
Here is what I see when I reach this stage, I dont see "Select Mortgage Interest Adjustment"
Is that expected?
The mortgage interest adjustment is entered automatically in Schedule CA in Column C , Line 8A. Also appears in Miisc deductions in part 1 as a Separately Reported item. Go to your forms mode in your desktop software to see if this is recorded as i just mentioned in your Ca forms.
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