As you all know, the mortgage interest deduction is limited to $750k for some mortgages, depending on the date. TurboTax (both the Mac desktop and Online versions) are incorrectly using the unlimited amount on the Schedule A box 8a, instead of the limited amount. I checked the Deductible Home Mortgage Interest Worksheet on the Mac Desktop version and saw that it was doing the calculation correctly, but this did not get transferred to the Schedule A in either version. I contacted TurboTax and they connected me with two different CPAs who confirmed the issue. You can see the problem in the attached images.
My concern is: 1) someone else might not have noticed and submitted their taxes with the wrong amount; 2) what is the cleanest way to submit? I guess I could create a fake 1098 with the limited amount as the full amount.
I recorded a video of both the desktop and online versions, but I cannot share it here.
