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Returning Member
posted Jun 4, 2019 3:46:45 PM

Why am I not being credited my mortgage interest when selecting itemized deductions.

I have selected "itemized deductions" however, I noticed my mortgage interest shows a zero on the summary.  Why am I not being credited that deduction?

0 5 969
5 Replies
Returning Member
Jun 4, 2019 3:46:46 PM

I understand the increase, but our net deductions exceeds the standard. Either way, I should be able to choose between the standard and itemized deductions. When I choose itemized, the summary shows zero for mortgage interest.  The other itemized categories are populated with the exception of the mortgage interest category.

Level 3
Jun 4, 2019 3:46:48 PM

The recent changes in 2018 may have resulted in the standard deduction being more advantageous to you. Starting in 2018 the standard deduction is as follows:

Single/Married Filing Separate- $12,000

Head of Household- $18,000

Married Filing Joint- $24,000

Based on your filing status above, are your itemized deductions higher? If your standard deduction is higher TurboTax would utilize that vs itemizing.

Returning Member
Jun 4, 2019 3:46:49 PM

I selected "itemized dedications". The summary lists all deductions with the exception of the mortgage interest.

Level 3
Jun 4, 2019 3:46:50 PM

Ok  your mortgage interest may be limited if your mortgage is more than $750,000  or $375,000 (Married Filing Separately). Please see the following link. <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tips/home-ownership/deducting-mortgage-interest-faqs/L4a9KF9mI#limitamount">https://turbotax.intuit.com/tax-tips/home-ownership/deducting-mortgage-interest-faqs/L4a9KF9mI#limitamount</a>

Returning Member
Jun 4, 2019 3:46:52 PM

Our mortgage is below $300,000 and we are filing married/joint. It is our primary residence. Why is this the only field in the summary with a zero?