TurboTax FAQ
TurboTax FAQ

2016 Federal Mortgage Interest Deduction Adjustment Amend Instructions

Certain taxpayers with mortgages that exceed $1 Million who deducted home mortgage interest on a Schedule A may need to amend their federal and state (if applicable) tax returns.   Although we fixed the issue in TurboTax, we want to make sure your return is complete and accurate.

You may be affected if all of the following apply to you:

 

  • You filed your federal and/or state tax return using TurboTax Online to prepare the return(s) prior to June 17, 2017 AND
  • You deducted mortgage interest on Schedule A AND
  • Your total (combined) mortgage balances exceed $1 million
 

If you are affected, you may have underpaid your federal and state tax. You may need to amend your tax return(s).

What you need to do:

  • You can amend your return yourself:
  • After the changes are made to your return, you will need to mail the amended return.  We're here to help if you have questions or need assistance.  You can call us at 1-877-216-2138 to reach an agent who is prepared to assist you with this issue.  Tell the agent you're calling about: 2016 Federal Mortgage Interest Deduction Adjustment.
  • Remember to keep a copy of your amended returns in your tax files

Filing an amended return is free.  In addition, as a part of our Accurate Calculation Guarantee, TurboTax will reimburse you for any penalties or interest you are assessed as a result of this error.  You can find additional information about our Accurate Calculation Guarantee by clicking on this link TurboTax Accurate Calculation Guarantee .  If for any reason you are not satisfied with TurboTax as a result of this issue, we will refund your purchase price. 

 


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