Skip to main content
January 21, 2023
Question

Mortgage Interest showing refund until I make a selection

  • January 21, 2023
  • 1 reply
  • 0 views

I'm entering my mortgage interest for an itemized deduction. All is well until I get to the screen that asks if my loan is a HELOC, a refinance, or none of the above. This is my original mortgage and I select none of the above and my refund (small like $200) goes to a tax due of $2500. What is up?!? That makes zero sense to me. Is this a bug in Turbo Tax? 

    1 reply

    January 24, 2023

    What I would do is delete everything in that input and start from the beginning. Start entering the information as follows;

    Search bar type in Mortgage Interest

    Then, Jump to Mortgage interest

    Then, Did you pay any home loans, Yes

    Then, Who is your mortgage lender

    Then, What kind of property did you have

    Then, None of the above

    Then, Let's get the details from your 1098. Be sure to answer Boxes 1,2 and 3

    Then, Is this loan secured by a property of yours - select yes

    Then, Any points paid Yes or No

    Then, If Most recent form, Yes

    Then , you'll get to the screen which you were having trouble with , Select no

     

    Then , if you followed all these steps the way I just showed you, you would get the desired results. I just did all these steps on my own TT input and I came through clear. There is no bug in the system. 

     

    [EDIT 1/25/2023 11:00 AM PST]

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"