Mortgage Interest - Late Payment Charge

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 Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
  2. Click Itemized or Standard Deductions to expand the category, then click Interest expenses (scroll down if necessary)
  3. 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.