Mortgage Interest

Forum|Forum|6 years ago
February 7, 2020
3 replies
0 views

Is something up with the mortgage interest tool? I added my interest and the program saves it but when it lists items for the sections, it shows a "0" for that line item. I go back in to that section and see the correct number there, run the program checker again and still have a "0" for the mortgage interest in the summary. Any ideas?

KathrynG3

Level 14

Please double check that your details are fully entered. Was there a re-finance? Did you have more than one mortgage and one was a home equity line of credit? Depending on the dates of the mortgages, you may be affected by the new Tax Cuts and Jobs Act.

Deducting Mortgage Interest FAQ's is a good starting point. Answer the detailed questions as comprehensively as possible.

Awilliams1621

Level 2

I am having the same issue with the mortgage interest tool. I have looked my numbers over multiple times and they are correct. They say I am due a credit but it isn't carrying over when you hit continue. If this is not an issue with the tool, I am not sure what else is wrong. Has anyone been able to correct this?

MaryK4

Level 15

If your standard deduction is higher than your itemized deduction, TurbiTax will automatically use the standard deduction.

@Awilliams1621

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Awilliams1621

Level 2

My itemized deductions are definitely higher so that was not the case. I used the advice of someone else on this topic regarding going to the forms page and overriding the column for mortgage interest and that finally did the trick. I think this needs to be corrected by Turbo Tax. That is a huge deduction for them to have an error on.

@MaryK4