Question

After a review of my 2018 taxes it looks like TurboTax doubled my mortgage interest deduction on some, but not all, of my forms. Now I have an IRS bill, what do I do?

Forum|Forum|5 years ago
August 28, 2020
1 reply
0 views

It's correct on the Mortgage Interest Worksheet, but doubled on the Schedule A. It's a GUI, I never touched a form, but now I am getting billed plus interest. Unsure of how to resolve.

TurboTax Deluxe Online

A

AmeliesUncle

If your tax return is wrong and you think the IRS bill is correct, then pay the bill. That is what is owed.

If you think the program had an error, you can make a claim to get any penalties and interest reimbursed by TurboTax (see link below and the associated links for more information). However, in most situations this type of thing is because you accidentally entered it twice. Common mistakes are entering two mortgage interest statement, entering it in the Home Office section AND the personal expense section, and entering it in the Rental Section (as an owner-occupied rental) AND in the personal expense section. So if you have a Home Office or an owner-occupied rental, you may want to look into those sections.

https://ttlc.intuit.com/community/charges-and-fees/help/what-is-the-turbotax-100-accurate-calculation-guarantee/00/26355

VolvoGirl

Employee

One thing I've seen happen is if you imported any info from your bank it also imported the 1098 and Mortgage interest. Then you also manually entered it.

fanfare

Employee

Always print a copy of your completed tax return for your records, and review it carefully before e-Filing.
You will need it if you are audited by the IRS, or to amend if a TurboTax update changes your return or for any other reason.
AND, to find your AGI next year.
AND, to verify itemized deductions.