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paul12345
New Member

"All deductible interest" is showing less than the total mortgage interest shows. This leads TurboTax to choose standard deduction when it should not.

Various refinances and transfers of mortgage servicing company on original mortgage in 2020. Quicken shows ~$20k in mortgage interest but in the summary page shows only ~$8k in deductible interest, leading it to suggest the standard deduction when it should not.
2 Replies
paul12345
New Member

"All deductible interest" is showing less than the total mortgage interest shows. This leads TurboTax to choose standard deduction when it should not.

Deleting one of several mortgage interest deductions makes the itemized deductions go up! How could paying less interest possibly make total itemized deductions go up? This is a bug in the Turbo Tax software. It seems you have not thought of the case of more than 1-2 entries in this area.

paul12345
New Member

"All deductible interest" is showing less than the total mortgage interest shows. This leads TurboTax to choose standard deduction when it should not.

Based on reading another bug report, we ended up adding up all mortgage interest documents (1098) as if they were a single one and entering that. Although the total interest paid may be correct, the rest of the information like dates and names of lenders cannot be entered accurately when doing this.

 

This issue should be fixed in TurboTax!

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