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 click Federal.
2. Click Itemized or Standard Deductions in the Federal Quick Q&A Topics menu to expand, then click Interest expenses.
3. Continue with the interview process to enter all of the appropriate information.

See IRS Publication 17 Your Federal Income Tax (For Individuals) for more information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.