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Deductions

Enter home mortgage interest on Schedule A

You can enter home mortgage interest on Schedule A through multiple methods, depending on reporting requirements. Review the following for information on each method.
note
To ensure accuracy, don't use more than 1 method to enter information on Schedule A. If you've already used 1 method to enter the mortgage interest, don't use a different method to enter it again.

Standard data entry

If the home mortgage interest isn't limited or apportioned, use the statements in the
Itemized Deductions
 folder, then the
Interest Expenses
 section on the
A
 screen to enter.

Limits to home mortgage interest

If the taxpayer has to limit their mortgage interest deduction due to the amount or nature of the loans, enter the mortgage interest on the
MortgInt
 screen in the
Itemized Deductions
 folder. Enter data in the Home Mortgage Interest Limitations section to complete the Home Mortgage Interest Limitations Worksheet A and the Mixed Use Mortgage Worksheets in forms view.
The
MortgInt
 screen is a multi-unit input screen. To enter multiple mortgages, add a unit for each set of mortgage data. To add a unit, right-click on the
MortgInt
 tab and select
Add Unit
.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual

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