i have one mortgage. it is a refinance done in oct 2020 where money was taken out to spend on non-house things. i paid interest and have zero points.
i have entered the info from the 1098, and i have said the amount spent on the house which was 0, but the federal check is giving an error.
the mortgage interest limited smart worksheet is open.
tax and interest deduction worksheet. Limited interest and points must be entered.
it then expects me to put a value in "Limit int/points on 1098" field.
on the form ' does your mortgage interest need to be limited' is yes.
line A.1 is zero
line A.2 is blank and is asking for a value, but i have no idea what value is.
i do not remember getting this problem last year for 2021 tax year.
i've deleted the form twice and when i reenter the values i get the same error.
If the loan is not a secured debt on your home, it is considered a personal loan, and the interest you pay usually isn't deductible. Don't enter the form that you used for non-house things.
this is my primary mortgage. when we refinanced in 2020, we took a small amount of equity out for non-house spending purposes.
i have a single 1098 with my total mortgage interest paid.
When i did this for tax year 2021 i had no errors, for 2022 i am.
This is a bug, because i went to my 2021 return and ran through the exact same steps in TT2021 with last years 1098 and got no error.
Thank you for the detailed explanation as to what is happening. There is a current issue that is causing the same result you are experiencing. Please click here to sign up to be notified once we get this fixed. @wilfsdad1965