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March 8, 2025
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Why does deductions and credits show mortgage interest before I've entered any?

  • March 8, 2025
  • 1 reply
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I am using the online website tool and under deductions and credits there is a summary of everything and one item is Mortgage Interest and Refinancing (Form 1098). I have not entered my 1098 info yet, but it is showing $1000s of dollars in interest already. Where is it getting this from? If I enter my 1098 info, it gets added to this huge base value  resulting in a very incorrect deduction.

    Best answer by KeshaH

    If your home is also being used as a rental or home office and you entered these expenses in the income section, the personal use portion of your mortgage interest will be carried over to your deductions section. You won't need to re-enter your mortgage interest.

     

    If you don't have rental or business use of your home, we can look at your return and see exactly what you see to  help come to a resolution. The return will be scrubbed and won't include any of your personal details.

     

    If you're using TurboTax Online:

    Once you're logged in to your account,

    - on the left hand panel, click on Tax Tools and then choose Tools

    - on the pop up window, select Share my file with Agent

    - you'll see a message saying you'll give us a copy of your tax return. Your personal information will be changed so we can't see any private information.

    - click okay and you'll get another message with a token

     

    If you're using TurboTax Desktop:

    • Click on Online in the top menu of TurboTax Desktop for Windows
    • Select 'Send Tax File to Agent'
    • Write down or send an image of your token number and state then place in this issue.
    • We can then review your exact scenario for a solution

     

    Please reply to this message with your token so that we can further assist you. Let us know all other states, if any, that are included on the return.

    1 reply

    KeshaHAnswer
    March 8, 2025

    If your home is also being used as a rental or home office and you entered these expenses in the income section, the personal use portion of your mortgage interest will be carried over to your deductions section. You won't need to re-enter your mortgage interest.

     

    If you don't have rental or business use of your home, we can look at your return and see exactly what you see to  help come to a resolution. The return will be scrubbed and won't include any of your personal details.

     

    If you're using TurboTax Online:

    Once you're logged in to your account,

    - on the left hand panel, click on Tax Tools and then choose Tools

    - on the pop up window, select Share my file with Agent

    - you'll see a message saying you'll give us a copy of your tax return. Your personal information will be changed so we can't see any private information.

    - click okay and you'll get another message with a token

     

    If you're using TurboTax Desktop:

    • Click on Online in the top menu of TurboTax Desktop for Windows
    • Select 'Send Tax File to Agent'
    • Write down or send an image of your token number and state then place in this issue.
    • We can then review your exact scenario for a solution

     

    Please reply to this message with your token so that we can further assist you. Let us know all other states, if any, that are included on the return.