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March 16, 2020
Question

My 1st mort was purchased so I received 2 1098's. Program is adding the 2 loan balances and now will not allow me to take the full mort int deduction. How do i fix?

  • March 16, 2020
  • 1 reply
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1 reply

VictoriaD75
March 16, 2020

There is a workaround for this. 

 

For desktop versions:

  • In Forms view, locate and click on Tax & Int Wks on the left from the forms list
  • On the form, scroll to Mortgage Interest Limited Smart Worksheet
  • Click on NO to the right of the question, Does your mortgage interest need to be limited

For online versions, after entering the 1098 interest information, continue through the screens and TurboTax will ask you if the interest needs to be limited. If this doesn't question doesn't appear, try the steps below:

  • Under Deductions & Credits, expand the menu for Your Home
  • Click Start/Revisit next to Mortgage Interest and Refinancing (Form 1098)
  • Click through until you get to a screen that says Do any of these situations apply to you? Mark Yes.
  • On the next screen, take out the zero.
  • Click back and choose No.
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