Turbo tax is capping my federal itemized deduction for mortgage tax at $10K - is that a mistake in their software?

[Bsch4477]

Look again. It should be limiting you to SALT items. 

You can deduct a combination of the following taxes, up to the annual limit: 

• State and local income taxes or general sales taxes (you can choose one, but not both)
• State and local real estate taxes
• State and local personal property taxes 

[VolvoGirl]

The SALT $10,000 max deduction doesn’t go up to 40,000 until we file our 2025 returns next year.   

[AmeliesUncle]

Mortgages don't have tax.  Are you asking about the real estate tax on your home?

As the others noted, there is a limit to the deduction of real estate tax.  However, if your situation is such that you are subject to such limitations, in most cases, you REALLY should be consulting with a tax professional.  In my opinion, if your income or assets are that high, using Do-It-Yourself software such as TurboTax is a foolish thing to do and you really should be consulting an actual person that can give you specific advice about your specific situation. 

[xmasbaby0 · Accepted solution]

You may be confused about the newly passed tax law changes.   The state and local tax deduction (SALT) is still capped at $10K for 2024 tax returns.   For next year when you prepare a 2025 return to  file in early 2026, the SALT limit goes up to $40K.