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Level 2
posted Feb 21, 2021 8:16:26 PM

Why isn't the mortgage interest deduction error fixed yet?

Why isn't the programming error for the mortgage interest deduction related to more than one 1098 for the same mortgage fixed yet? This issue was brought up weeks ago and I cannot file my return until this is completed? 

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3 Replies
Intuit Alumni
Feb 26, 2021 2:32:30 PM

Please see the TurboTax FAQ link below for help with the Mortgage Interest Deduction Error:

Deductible Home Mortgage Interest Worksheet 9-945-263 Error

Level 1
Feb 28, 2021 5:53:19 PM

This link is not at all helpful.  Please resolve this, TurboTax, so your paying customers can file their taxes!!!

Expert Alumni
Feb 28, 2021 6:24:37 PM

 This is the correct procedure for entering multiple 1098-T's.

  1. Enter the 1098 for the original loan. Make sure you enter the information exactly how it is enter on your 1098 T. You will enter the outstanding mortgage balance for this loan as of 12/31/2019.
  2. For the refinanced 1098T's,  you may combine these into one 1098. When you do, make sure you enter 0 in box 2. Since these are not the original loans in the beginning of the year, there are no loan balances for these lenders as of 12/31/2019.
  3. If you enter a mortgage balance in your refinanced 1098T, this will add to your mortgage balances and may limit your interest paid thinking that your balance are over the $750K threshold. Your mortgage balance will be correctly reflected in your original 1098-T.