Question

Turbo Tax online not deducting mortgage interest. Suggests using standard deduction when itemized (10k + mortgage interest) is higher. Any workarounds to this?

Forum|Forum|3 years ago
February 21, 2023
1 reply
0 views

EDIT: Problem solved. Just had to link my mortgage interest to a property, which I did not do the first time and when I tried doing it after it wouldn't change the deduction. So I cleared everything, started fresh and this time around it did give me itemized deduction!

TurboTax Premier Online

M

Mike9241

what else in the way of itemized deductions because your standard deduction could be higher

Filing Status	Standard Deduction Amount
Single	$12,950
Married Filing Jointly or Qualifying Widow(er)	$25,900
Married Filing Separately	$12,950
Head of Household	$19,400

There is an additional standard deduction of $1,400 for each of the following on a joint return

or only for the taxpayer if married filing separate

Taxpayer over 65

Spouse over 65

Taxpayer blind

Spouse blind

The amount of the additional standard deduction increase is $1,750 for taxpayers who are claiming the “single” or “head of household” filing status and over 65 or blind

A

aj90jdAuthor

So I am filing single and my standard deduction is 12950 . Itemized is 10000 (I have capped out because state taxes+ property taxes were higher than 10k) plus my mortgage interest which is about 9000. Turbo tax suggests using standard deduction because it compares the 12950 against 10000 and not 19000 which I think is the right calculation. Am I missing something here?

G

GLW1

I'm having a similar issue. Extremely frustrating. I'm MFJ but interest is not being taken into account by TurboTax so it keeps telling me I'm better off with the standard deduction, which is not the case. Supposedly TT is looking into this glitch. It shouldn't be so complicated to patch around this problem.