TurboTax Premier Not Deducting Mortgage Interest on Refinanced Mortgage

[ccr12189]

This worked.  Thanks.  Huge issue with TurboTax, if I didn't double check their work, I would not have caught it.  This was a $3000 swing for me.  

[powerdev]

Hi,

I am facing the same issue as yours. Can you help how did you resolve this issue. 

Thanks in advance.

[Carl]

Folks need to keep in mind also, that you are limited not only on your mortgage interest deductions, but also on the SALT (State and Local Taxes) deduction which is capped at $10K. So if you have a total of more than $10K for SALT, the amount over $10K is not deductible and therefore your itemized deductions could still be under your standard deduction.

[Jim-4_TTAX]

I checked of NO and it still did not deduct the mortgage interest?

[Jim-4_TTAX]

I have a $150,000 mortgage left from $222,000. I put in the amount and it does not reduce my tax bill.

 I checked off NO to the limitation question. Still taxes are the same.

[Jim-4_TTAX]

It is not working I did that. No is checked off.

[jcdechou]

And you my friend get the Gold Star. Thank you.

[therealdba]

You, sir, johnpmc are a genius! It suddenly removed my mortgage deduction and nothing would make it go back to itemized deductions. Difference of $2,000!  This fixed it.  Thank you!  How can the program have such a terrible error.

[francesjc]

THANK YOU!!!

This was driving me crazy!!!

Obviously a bug that Intuit should correct. 
I appreciate you posting this so I didn’t need to override the interest! 🙂

[khelgren]

That fixed my problem. Thanks!!

[susanh1003]

I have exactly same scenario, but could not change from yes to no on the worksheet. Seems to be treating the 1098 as 3 separate loans and not refinanced loans.  Any other suggestions? This was originally working properly a couple weeks ago

[susanh1003]

I have exact scenario, it worked a couple weeks ago, now it does not. Were you able to get it to work by changing that question from yes to know? I could not change to no.

[Cynthiad66]

Some TurboTax customers are experiencing the following error message when running the Federal Error Check

Check This Entry:

Tax and Interest Deduction Worksheet: Limited Interest and Points must be entered

If you're experiencing  the error above,  please go here to receive email notifications when any updates related to this issue become available.

You cannot claim a mortgage interest deduction unless you itemize your deductions. This requires you to use Form 1040 to file your taxes, and Schedule A to report your itemized expenses. The interest payments and points you pay are combined with all other deductions you claim on Schedule A; the total of which reduces your income that is subject to tax on the second page of your tax return.

[Lfried3]

This sounds like it will work but it will only work if you're using the desktop version not the online version. The online version does not have access to the forms for you

[LinaJ2020]

If you have more than one 1098 form, I will recommend you to combine all 1098 forms and enter as one. I am attaching a TurboTax link for the instructions how to do claim your mortgage interests.  Click here:

Multiple Form 1098s

For tax years prior to 2018, your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status). Beginning in 2018, this limit is lowered to $750,000.  For more information about the mortgage interest deductions, click here: Mortgage Interest deduction