Is there a case when mortgage interest paid is not deductible for taxes?

my parents did their taxes and they were told their interest paid was not deductible. i dont have all the details yet, but does any one know why this might happen?Is there a case when mortgage interest paid is not deductible for taxes?
like everyone mentioned, if the standard deduction is higher, this would be more beneficial.





also, if the mortgage indebtedness is over $1,100,000 the mortgage interest deduction gets reduced.Is there a case when mortgage interest paid is not deductible for taxes?
If they claimed the ';standard deduction,'; instead of itemizing, the interest isn't deductible.
Only if it is for a 3rd or 4th home-IRS allows your primary residence and 2nd home mortgage interest to be deducted as well as mortgage interest on an equity loan-Hopefully they went to H %26amp; R block or somewhere they are entitled to a ';do over'; for free-Turbo Tax is super easy as well and lots cheaper
Interest payments and points on a primary home or a second home should be deductible.





Most of the time when someone runs into this problem, the loan in question is usually on a second-home or investment property. If the property is a rental, the interest is not deductible because its a business expense. They also wouldn't qualify to deduct the interest if they take out an equity loan to finance business/investments, or to buy another property. Ask them what they ';declared'; to their tax preparer and definitely get a second opinion if you can.
Simple -





our family for years had mortgage interest of $8,000





the deductible is over $10,000 this year that is a 'given' on


the 1040 form





SO - would you rather deduct 8 or 10??





ours is not deductible - I take what they give me





******************why not deduct it ALL


Support the Fair Tax


Pay Tax on what you spend -


NOT what you make!
Could be a misunderstanding. If your parents filed jointly, and their combined itemized deductions were less than $10,300, then they would be better off to take the standard deduction rather than use the itemization.





So it *might* be not that they weren't ALLOWED to - but that it was BETTER for them not to, and to use the Standard Deduction instead...





(not knowing your parents' situation - that's merely a guess)