How can we help?
search-icon
Popular Topics:     Import Options  •   Refund Status  •   Amend Return  •   File Extension
Help Center>
Form 1098 - Mortgage Amount Over Deduction Threshold
1

Per IRS Publication 936:

Home mortgage interest. You can deduct home mortgage interest on the first $750,000 ($375,000 if married filing separately) of indebtedness. However, higher limitations ($1 million ($500,000 if married filing separately)) apply if you are deducting mortgage interest from indebtedness incurred before December 16, 2017.


The TaxAct® program does not calculate for mortgage interest that is larger than the deduction amount. You need to calculate your deductible mortgage interest and report it in box 1 on Form 1098 in the TaxAct program. To report Form 1098 in the TaxAct program, go to our Form 1098 - Entering in Program FAQ.


Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.