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srsjis
Returning Member

Mortgage interest deduction

We have two homes.  Home A is our primary residence and Home B is secondary.  Outstanding loan balance on home A is 443K and on home B is 211 (so under the 1 million limit).   Only the interest on Home A is being allowed as a deduction.  We are itemizing deductions.  I see no way to change anything to have both amounts of interest totaled as a deduction.  Neither has a business related to it and we claim no home office.

3 Replies
MayaD
Expert Alumni

Mortgage interest deduction

Customers who have two or more homes,  may be unable to finalize the home-mortgage interest worksheet and complete their return due to an ongoing form-availability error. We are aware of this issue and are working to resolve the problem. We expect it to be fixed by the end of the month. 

 

Please use the link below to sign up for notifications and updates

Why isn't my Deductible Mortgage Interest Worksheet available yet? 

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srsjis
Returning Member

Mortgage interest deduction

It is the middle of March and my interest is still not being counted.   Is anyone else still having this problem with their 2nd home mortgage interest?  Just called and the agent doesn't know what the problem is.

 

Also the link described for updates and notifications regarding the issue doesn't work.

jcore58
Returning Member

Mortgage interest deduction

This issue also existed last year.  They told me to combine (in one line) both mortgages and the issue seemed to go away.  Also, although the pop-up message mentions a lower amount of mortgage interest will be deducted, the final summary seemed to show everything so maybe it's just the pop-up message.  First look at the final summary and see if the mortgage interest deduction reflects both homes.  If not, combine both into one line for the amounts and interest and see if that fixes it.  I also added a footnote into my return to include what I did, and mentioned it was a known TT defect.  Regards!

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