Question

TT 2023 Does not appear to correctly transfer from Deductible Home Mortgage Interest Worksheet

Forum|Forum|2 years ago
January 28, 2024
1 reply
0 views

I am married filing separately, and I understand my mortgage interest deduction is supposed to be limited.

I have three 2023 1098s for mortgages.

I cannot figure out where this $14,457 is coming from. On the "Deductible Home Mortgage Interest Worksheet" there is an entirely different number on line 22 which also states to use on Schedule A Line 8A.

This worksheet implies $27,076 should be used on Schedule A.

When I return to Schedule A, after this, I see the $14,457

Any help on this would be greatly appreciated. If more info is needed please ask.

Thanks.

TurboTax Home & Biz Windows

CatinaT1

There is a statement for the amount listed on 8a. Have you looked at that statement? You indicated you are Married Filing Separately. I am guessing it might be because you have shared interest and are only able to deduct your share of the interest.

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

A

Annoyed2024Author

Yes. I input everything correctly.

I found a thread earlier today from a couple of years ago that looks like it might have been a similar problem. Implication is TT cannot handle partial year mortgages correctly at least when mortgage interest needs to be capped. It seems I have to do everything manually, or it carries over the incorrect number.

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/mortgage-interest-deduction-complexity-error/00/2639645/message-id/252692/highlight/true

I'm going to try the above approach later, and see if it works without forcing me to do overrides in TT after the fact. I hope this is the correct resolution.

Thanks.