PROGRAM ISSUE-NO TAX ON CAR LOAN INTEREST-NOT CALCULATED CORRECTLY

Forum|Forum|3 months ago
March 13, 2026
2 replies
0 views

SCHEDULE 1-A PART IV LINE 26 IS PULLING THE WRONG NUMBER.

The phase out starts at $200,000 and goes to $300,000

My client AGI is $214,166 but the program has phased out the amount completely to not allow any deduction. Please help, Support was not helpful

ProSeries Professional

Just-Lisa-Now-

Intuit Community Champion

you sure those are the right limits? The 1-A says right on Line 26 thats its 100k and 200k for MFJ

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E

egaiennie

Level 2

I am not getting a deduction at all. Not sure what I am doing wrong but the vehicle is a Buick final assembly in Michigan. its not telling me the vin is invalid. Is there a box to check on another sheet that I am missing?

Just-Lisa-Now-

Intuit Community Champion

I had one that did that to me the other day, I was misreading a 5 for an S or vice versa. Did you plug it into the VIN decoder website and it shows as valid?

Welcome to VIN Decoding :: provided by vPIC

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T

TaxGuyBill

Level 15

@tscott wrote:

The phase out starts at $200,000 and goes to $300,000

My client AGI is $214,166

The phase out for MFJ is $200,000 and goes to $250,000 (not $300,000).

Does the taxpayer have $3000 or LESS of vehicle loan interest? If so, it seems to be doing it correctly. If they had more than $3000 of interest, then something seems off.

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