in [Event] MetLife & TurboTax Present: the Ask us Anything Forum
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Look at the actual Form 8829 (not a worksheet). Do the numbers on Lines 10 and 16 seem correct? If not, what seems wrong?
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
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)
@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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