Mortgage interest not counting towards deductions

[Thomasv1]

We are now in October 2021 and I had the same exact experience (I was filing on Oct 15th due to an extension that I had obtained). I can confirm that TT never moved a finger about this issue and the issue still exists.

My version is 2020 Premier, and it asks me to grab a calculator and add up all the 1098s for the same refi and enter only one and it worked. Which software in the entire world would ask the customer to grab a calculator and do the math for them? How ridiculous is that! Then why are we paying them? Why can't they add up these numbers when a customer has multiple 1098s?? This is a very common situation - your bank can sell the mortgage or you could refi it causing you to have multiple 1098s. I almost lost my interest deduction, but then I found this thread. Else this bug would have cost me thousands of dollars! 

[Thomasv1]

Instead of us 'grabbing a calculator' why can't TT do it for us? 

[lwalden]

Mortgage interest is limited to up to $750k of outstanding balance due. For example if you sold your primary home with an outstanding balance of $450k with paid interest of $11500. Then you purchased another home in the same year with an outstanding balance of $476K  with paid interest of $7500. You'll only be able to deduct interest of around $10,800 because the combined outstanding principals are more than $750k

[Kwilson444]

2/3/2023, just ran into the same problem for CY22 taxes - have never seen this before, been a customer for 8 yrs...guess I'll start over & give it another go.

[JosephS1]

As others have previously stated, be sure to place the checkmark in "yes this loan is secured by a property of mine" and the total mortgage debt is less than $750,000.

@Kwilson444 

[Kwilson444]

Thanks...worked!

[mg811]

I am having this same issue in 2023. I go to the worksheet suggested and can't change the box from Yes to No.

This has been a known issue for 4 years and still Intuit has no fix.

I am using the TurboTax Deluxe Desktop version for Mac.

[Shortynomore]

This does not work. The software still (2023) is setting the form to limit the deduction.

[MichaelG81]

Yes, I am assuming your interest is not flowing to your deductions or schedule A. This is a confirmed issue that is actively being resolved, Thank you for your patience. Please click here to sign up for updates when resolved.

@mg811 

@Shortynomore