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R
ryanbrekke8
Employee
February 9, 2021
Question

Why does my tax bill go up when I add two 1098's? I purchased a home in 2020 and refinanced also in 2020 so I have two 1098's. Adding in the 2nd 1098 makes my bill go up.

  • February 9, 2021
  • 1 reply
  • 0 views
When I add in the first 1098, my bill goes down, but when I add in the second, it goes back up

1 reply

A
AlanT222
February 9, 2021

Your mortgage interest deduction is being reduced by having multiple 1098s.  

 

Some TurboTax customers are experiencing an issue with their Home Mortgage Average Balance. This can cause the Home Mortgage Interest to be incorrectly limited.

If you're experiencing the issue above, please go here to receive email notifications when any updates related to this issue become available.

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