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hellozero
Returning Member

Under mortgage interest: it won't allow me to choose "no, none of these situations apply to me".

Hi I am doing this years tax return. After I entered all the 4 form 1098, it comes to the page where it asks "does any of these situations apply to you?"

 

And the software is locked on "yes, one or both of these situations apply to me". I cannot choose "no, none of these situations apply to me". Can anybody help? Thanks!

4 Replies
JoannaB2
Expert Alumni

Under mortgage interest: it won't allow me to choose "no, none of these situations apply to me".

Yes, you may claim mortgage interest deduction regardless of the number of lenders as long as the loan does not exceed $750,000 for married filing joint ($375,000 for married filing separate). The home mortgage loan must be secured by the property to qualify for the deduction. The following are steps to enter deductible home mortgage interest:

  1. Login to Turbo Tax.
  2. Under Federal Taxes, in Deduction and Credit tab, click "I'll choose what I work on".
  3. Under " Your 2020 Deduction and Credit", click update or start next to Mortgage Interest, Refinancing, and Insurance.
  4. Under " Home Loan deduction summary" click edit  and enter the lender's information, one at a time.
  5. Click continue until you get to the screen " Is this loan secured by a property of yours?" 
  6. Click Done.
  7. The next screen is a question " Do any of the situation apply to you?". Your answer here will determine if your loan exceeded the allowed home mortgage loan amount.

See, why is my home mortgage, if you encounter any issues,

hellozero
Returning Member

Under mortgage interest: it won't allow me to choose "no, none of these situations apply to me".

Hi, I went through the steps you mentioned multiple times. The issue is that when it comes to the last question, it won't allow me to choose the "No, none of these situations apply to me" option. 

 

 

JoannaB2
Expert Alumni

Under mortgage interest: it won't allow me to choose "no, none of these situations apply to me".

Yes, you may claim mortgage interest deduction regardless of the number of lenders as long as the loan does not exceed $750,000 for married filing joint ($375,000 for married filing separately). The home mortgage loan must be secured by the property to qualify for the deduction. The following are steps to enter deductible home mortgage interest:

  1. Login to Turbo Tax.
  2. Under Federal Taxes, in Deduction and Credit tab, click "I'll choose what I work on".
  3. Under " Your 2020 Deduction and Credit", click update or start next to Mortgage Interest, Refinancing, and Insurance.
  4. Under " Home Loan deduction summary" click edit  and enter the lender's information, one at a time.
  5. Click continue until you get to the screen " Is this loan secured by a property of yours?" 
  6. Click Done.
  7. The next screen is a question " Do any of the situation apply to you?". Your answer here will determine if your loan exceeded the allowed home mortgage loan amount.

See, why is my home mortgage, for any issues encountered.

JoannaB2
Expert Alumni

Under mortgage interest: it won't allow me to choose "no, none of these situations apply to me".

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