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April 13, 2025
Question

1040 8a greater than the total in "home loan deduction summary"

  • April 13, 2025
  • 1 reply
  • 0 views

The 1040 8a value is 55% greater than the  "Total" value reported on the "Home loan deduction screen".

The value in "Your 2024 Deductions & Credits" for "Mortgage Interest..." is likewise inflated.  The lesser value appears to be correct.

What might cause the "Total" value to be less than the value on 1040 8a?

    1 reply

    lars0361Author
    April 13, 2025

    I found my error.  My property has a rental unit.  TurboTax had already added the deduction from the personal use part of my property, which looks to be correct. 

    A pop-up in TurboTax informed me about Mortgage Interest for Personal Use from Schedule E.