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uxbman
New Member

Why can't I claim mortgage interest for 2018 even though I was able to in 2017? Nothing changed with the loan (no refinance, etc)?

 
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JulieCo
New Member

Why can't I claim mortgage interest for 2018 even though I was able to in 2017? Nothing changed with the loan (no refinance, etc)?

The tax reform changes for 2018 increased the standard deduction significantly which will limit whether itemizing deductions (which includes mortgage interest) will be more favorable for your return.  Therefore, if your total itemized deductions for 2018 are less than the standard deduction, TurboTax will recommend the standard deduction for your return.

Here is more information:

https://ttlc.intuit.com/replies/4848485

https://ttlc.intuit.com/replies/3300473

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1 Reply
JulieCo
New Member

Why can't I claim mortgage interest for 2018 even though I was able to in 2017? Nothing changed with the loan (no refinance, etc)?

The tax reform changes for 2018 increased the standard deduction significantly which will limit whether itemizing deductions (which includes mortgage interest) will be more favorable for your return.  Therefore, if your total itemized deductions for 2018 are less than the standard deduction, TurboTax will recommend the standard deduction for your return.

Here is more information:

https://ttlc.intuit.com/replies/4848485

https://ttlc.intuit.com/replies/3300473

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