Your 2019 Deductions and Credits

[SBCarolyn]

When I enter my 2019 mortgage interest on the individual page, it does not reflect back the correct number on the summary page of deductions and credits.

[JohnB5677]

There are a number of changes that have occurred due to the new tax laws.  One is the treatment of mortgage interest.

• In 2017, the maximum amount of debt eligible for the deduction was $1 million. Beginning in 2018, the maximum amount of debt is limited to $750,000. 
• Beginning in 2018, the interest on home equity debt is no longer deductible unless it was use to buy, build, or substantially improve your home.

So, if you refinanced to pay college tuition.  It would not be deductible.

Also see: Is Mortgage Interest Deductible

[Mohyee]

how do U report interest paid to city Bang on a personal loan?

[Mohyee]

I do bot have a mortgage.!

[DaveF1006]

Personal Loan interest is not deductible on your income taxes.  Please review this IRS link for more details on deductible interest.