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I entered my total mortgage interest and it was $19,641. When turbotax did the review of deductions and credits it only showed an amount of $14,654. Why is it smaller?

 
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TerryA
Intuit Alumni

I entered my total mortgage interest and it was $19,641. When turbotax did the review of deductions and credits it only showed an amount of $14,654. Why is it smaller?

The deduction can be limited if it's a recent loan and all of the mortgage/loan proceeds were not used to purchase/build/improve your home. See the Home Mortgage Interest Wks and the Deductible Home Mortgage Interest Wks in your "for records" print out.
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