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®:
- From within your TaxAct return (Online or Desktop) click Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
- Click Itemized or Standard Deductions to expand the category, then click Interest expenses (scroll down if necessary)
- The program will proceed with the interview questions to enter the appropriate information
See IRS Publication 17 Your Federal Income Tax (For Individuals) for more information.