The app is calculating $0 mortgage interest even though I entered $15k and is therefore not calculating my itemized deductions properly. Anyone else having this issue?

[Howiedog]

Yes, I researched this forum with the same issue of it not calculating my itemized deductions properly, including mortgage interest and property taxes.  It's recommending standard deduction and I can't fix it.

[SandJ]

The download step by step mode is not calculating refinanced home mortgage interest deductions correctly.  I spoke with a TurboTax representative whom was extremely helpful and confirmed that they're aware of the problem and are actively working to fix it.

The problem I experienced was the step by step questions were not properly calculating the interest paid and reported on a form 1098 onto the Home mortgage interest deduction worksheet for a mortgage that was pre-2017.  It added the two mortgage principal balances together which then exceeded the the post-2017 deduction cap and then wouldn't allow the full interest deduction allowed for in IRS Pub 936 (refinanced loans maintain their original date of origin.

The work around that was suggested was to add the interest from the new refinanced loan to the original loan interest reported on form 1098 and a note explaining what was done and why.

[lmonkaba]

I learned yesterday that the issue in my case was because I am married but filing separately and I exceeded the maximum mortgage principal of 375,000. If you’re married filing together the max is 750,000. I exceeded by just 1000 and it wouldn’t allow me to deduct any of the mortgage interest paid..this resulted in a $3000 difference in taxes owed. Fortunately I was I hadn’t received one of my 1098s so I was Estimating the principal balance and it ended up being less and I was able to get the deduction. 

[GomezTax2100]

That exact thing is happening to me.  I do not want to file until the deductions are correct

[JoannaB2]

Some Turbo Tax customers are experiencing an issue with their home mortgage average balance.  This can cause the home mortgage interest to be incorrectly limited.  This may be affecting your return.  See  this link  for what to do if you have multiple 1098s.  See also this Turbo Tax Help.

(edited 2/11/2021 @ 12:59 PM PST)