You can deduct as home mortgage interest a late payment charge if it was not for a specific service in connection with your mortgage loan.

To enter home mortgage interest in TaxACT:

1. From within your TaxACT return (Online or Desktop) click on the Federal Q&A tab
2. Click Itemized or Standard Deductions to expand the category, then click Interest expenses
3. The program will proceed with the interview questions to enter the appropriate information

See IRS Publication 17 Your Federal Income Tax (For Individuals), page 154 for more information.