- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mortgage Interest
I have deductible mortgage interest that allows me to itemize. When I got to the very end of the return, while it was "fixing errors", it took away the mortgage interest which changed my return to use the standard deduction.
I went back through the mortgage interest section again. When I check the box that says the mortgage debt is for a loan under $750k, it seems like it corrects itself. Then as soon as I hit "done", it goes back to disallowing it again.
I've tried this a dozen times and am beyond frustrated.
Any help or ideas would be appreciated.
Thanks.
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mortgage Interest
Yes, this is fixable. First, I recommend deleting your Form 1098 that was entered. To do this in TurboTax, follow these steps:
For TurboTax Online:
- From the left menu, select Tax Tools>
- Tools>
- Delete a form
For TurboTax CD/Download:
- From the Forms mode, type in 1095-A
- Scroll to the state entry, highlight it and click Open Form
- At the lower corner of the window, click Delete this form
Then, I recommend doing some technical housekeeping before proceeding. It may sound too simple to make a difference, but it does make a difference.
For TurboTax Online:
- Sign out of TurboTax
- Close the browser Window
- Wait a minute
- Open an incognito Chrome Window
- Sign In to TurboTax
For TurboTax CD/Download:
- I recommend doing a manual update.
Lastly, return to the Deductions & Credits page and re-enter Form 1098.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mortgage Interest
Great. Thanks a lot.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mortgage Interest
I'm having the exact same issue and this did not solve it.
I had $36k in itemized deductions and when I ran a Federal Review it found one on Schedule A 1098 "Int/Min" was empty. I put $0 and it dropped by refund from $4k to $1,500. It's now recommending I do standardized as it only shows $11k in itemized deductions. That $11k is $10k for state, local tax and $1k for charity. $0 is being reported by 1098 even though I have $20k filled out over five 1098's (I sold a house and refi'd twice).
Per your instructions I used my downloaded TurboTax to remove the Home Interest Worksheet Forms and checked for update (no updates). I then repopulated my 1098. It even says "Congratulations you've received... deduction" when I finish the 1098, but my Federal Tax number doesn't change (I'm currently taking Itemized Deduction to troubleshoot).
One difference from your instructions was I couldn't find 1095-A to delete that, I just deleted the five Home Mortgage Interest Worksheets for each one. I don't see a 1095-A Form listed in Forms and I didn't receive one as I didn't participate in an Affordable Care Act plan.
FYI, the box in Schedule A line 8 is unchecked.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Mortgage Interest
If the mortgage interest is not showing up on schedule A, please try this:
DESKTOP USERS:
Go into Forms (top right)
Enter the amount on Tax & Int Wks
Mortgage Interest Limited Smart Worksheet section
Line A2
OR
Step by Step
Federal
Deductions & Credits
Mortgage Interest, Refinancing and Insurance Click Update
Click Done
Click Yes, one or both of these situations apply to me. And Continue
Enter the Adjusted amount and Continue
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Still have questions?
Make a post