Question

My mortgage interest alone is 26k, and plus property tax and other stuff, why under itemized deductions, it says only 21k.

Forum|Forum|5 years ago
February 23, 2021
1 reply
0 views

It has the same bug as https://ttlc.intuit.com/community/tax-topics/help/why-is-my-home-mortgage-interest-being-limited/00/1863516. But the solution does not help me with it.

TurboTax Premier Online

S

shibai86Author

When I tried to find out how the itemized deduction was calculated, it says "is the same as HP3L12 because true."

L

linaj20201

Here is the workaround:

I am attaching a TurboTax link for the instructions how to fully claim your mortgage interests. Click here:

Home Mortgage interest being limited

For tax years prior to 2018, your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status). Beginning in 2018, this limit is lowered to $750,000. For more information about the mortgage interest deductions, click here: Mortgage Interest deduction