How to Remove Mortgage Deduction

You are allowed to deduct the amount of mortgage interest you paid during the year from your taxes. This is an itemized deduction on Form 1040 Schedule A. If you find that you reported mortgage interest deduction on your tax return on accident, then you can remove the mortgage deduction. In order to remove the deduction, you need to file an amended return with the Internal Revenue Service. The amended return is Form 1040X.

• 1

  Obtain a copy of Form 1040X, available in the resources.

• 2

  Fill out your personal information from the year you filed your taxes on the top part of the form up through line c.

• 3

  Write an explanation explaining you are changing your itemized deductions on Schedule A. Include the reason you are eliminating the deduction.

• 4

  Enter your adjusted gross income from the income tax you are amending on Line 1.

• 5

  Recalculate your Schedule A itemized deductions using a new Schedule A and input the amount on Line 2.

• 6

  Fill out the remainder of the form up to Line 22.

• 7

  Sign the form and check that you included all required information.

• 8

  Attach Form 1040 Schedule A with the amended changes to the back of the return.

• 9

  Mail the form to the appropriate Internal Revenue Service location. The list of locations is available on the Form 1040X instructions.