2897880
I have mortgage interest of $12,244. This amount shows up in the schedule A, but does not show up in the itemized deductions summary after all deductions and credits have been reviewed. I have compared 2022 to 2021 in both the summary of itemized deductions and the schedule A and everything looks similar, but again, the mortgage interest does not show in the summary.
NOTE1: I currently have itemized deductions of $26,990 (MFJ - $25,900), so I am already over the threshold to itemize and with the mortgage interest, I believe my itemized deductions should be $39,234.
NOTE2: Gifts/donations to charity $16,990 (donated two cars, cash & household items)
Mortgage Interest $ 0 ?????
Real Estate Taxes $ 9,348
State/Local/Sales Tax $ 2,326
Vehicle Registration $ 168
State & Local > $10,000 ($ 1,842)
TOTAL $26,990
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You can revisit the Mortgage Interest section and review your entries in the interview questionnaire to confirm that the interest you entered would be treated as deductible. For example, if you didn't enter information regarding the principal on the loan, entered an amount over $750,000, or didn't select that the loan was secured by the home, this could affect the calculation of deductible interest.
You can also preview your return in TurboTax to determine what happened to the mortgage interest entries. See here for details.
See here for more information from TurboTax on mortgage interest and limitations.
Thanks Monika! I have already done what you suggested and nothing seems to work. I have the principle loan amount added, the mortgage origination date added, and the property taxes added. The only thing I notice this year versus last year was the question about was this loan a HELOC(?). The loan was not a HELOC or a refinance of a previous loan.
When I was finished entering the figures, Turbo Tax indicated "Congrats, you get a tax break."
When I pull up the Schedule A, everything looks great except there is $0 on the mortgage interest paid line. When I double click on the $0, the information from my 1098 is there (including the mortgage interest number).
I am stumped!
Same thing is happening to me right now... Frustrating. When I first entered the data a month ago, it calculated everything perfectly. Now suddenly, the mortgage interest no longer appears in my Schedule A. I double checked all entries; I have done everything properly.
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