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Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

 
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4 Replies

Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

Look at the actual Form 8829 (not a worksheet).  Do the numbers on Lines 10 and 16 seem correct?  If not, what seems wrong?

Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

Thanks I figured it out. On my last home refi I took some cash and paid off some outside debt. Long story short when I went in and manually changed the excess mtg % down by the amount that I was not allowed to write off... it zeroed out the negative number. Thanks for the reply

Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

I still dont understand??

 

This is happening to me, and Im unable to manually edit that particular field.. which is negative for some reason (line 10 of 8829)

 

 

RobertB4444
Employee Tax Expert

Why does form 8829 wksht calculate my mortgage interest to a negative number when I calculate it manually I get a positive number i.e. 6.93% of 11,555 is $801 not -$599

@bjkjksjdsj  If you are filing single or married-filing-jointly then the amount of mortgage interest that you are allowed t take a deduction on is the amount related to $375,000 in mortgage debt.  If your home is worth more than that (or $750,000 if you're married filing joint) then TurboTax will attempt to adjust the interest deduction for you.  As @doncamp1560 says above you may have to manually adjust it.

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