Itemized Deductions

It depends.

You may need to review your input in the itemized deductions to ensure your mortgage interest is not subject to any limitations.

You can review your 1098 Forms into the program in the federal section of the program.

1. Select Deductions & Credits
2. Select Mortgage Interest and Refinancing (Form 1098) 
3. At the bottom of the next page, select Add another 1098
4. Be sure to answer the questions carefully for each 1098 (if more than one form) to ensure you are able to claim all of the mortgage interest allowed.  

The interest portion of the home loan is typically deductible on your tax return if it is secured by your residence.  See the following link for more information as to when you can deduct your mortgage and any limits that could apply, if any.

Mortgage interest deduction

Once you review your input above, go ahead and scroll down to the bottom of the deductions section and select Wrap up tax breaks.

You should continue through the screens until you see the following screen: 

Your information will be summarized based upon your input.  You have the option to see the breakdown or you can even select "Change my deduction". 

Please note, TurboTax will select the option which provides the greater tax benefit for you.