I have been using using turbo tax for several years, mortgage interest has been always deductible. I have no other home loan. Why is my morgage interest not deuctible, when I do my tax 2020?
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Are the Total of all your itemized deductions on Schedule A greater than the Standard Deduction for your filing status?
Standard deductions for 2020
Mortgage interest on your primary residence, 2nd home or any other "personal use" real estate is a SCH A itemized deduction. Until the total of all of your "allowed" itemized deductions exceed your standard deduction, the itemized deductions have no impact on your tax liability.
It looks like in Form 1098 ( mortgage int ) box 7 is not checked, so it may be the reason why it is not deductible. However, in 2019, my 1098 box 7 was not checked but still deductible. Did it changed in year 2020?
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