Entering 2 mortgage interest deductions is leading to strange outcome in Turbotax

I have two mortgages interest deds, when I enter both (20k + 2k) the deduction seems to be halved (total ded = ~ 12.5k). When i enter just one ded (20k), total says 20k, Why?

The bigger deduction (20K) is from a 550k loan from 2017, the smaller deduction (2k) is from a 870k from 2020.

404

Expert Alumni

Feb 3, 2021 11:42:27 AM

There is an issue with Mortgage Interest Limitation that may be affecting you.

Click this link to learn more about Home Mortgage Interest is Limited.

This link gives info on how to handle Multiple Mortgage Interest Statements.

New Member

Feb 3, 2021 1:47:06 PM

Thanks, but the 2nd link you sent is not useful and not the current issue

Level 8

Feb 4, 2021 6:29:58 PM

From what I've been instructed to do is to inform you of the following:

"We are aware of this experience. If you're experiencing the issue above, please go here to receive email notifications when any updates related to this issue become available."

I do hope this helps.

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Entering 2 mortgage interest deductions is leading to strange outcome in Turbotax