I agree completely that TT's failure to correctly handle refinanced mortgages is a major problem in their software that many, many users with a Schedule A will encounter.
When I combined my two 1098's into one "fake" 1098, per TT's revised instructions in EasyStep, I did finally get the proper mortgage interest deduction placed on my Schedule A. But if I tried to get TT to calculate my amortized points on the second loan, I lost half of my interest deduction. (Thus I had to calculate my deductible points manually and enter them manually on Schedule A.)
But I will not be willing to file my return electronically if TT does not fix both the mortgage interest and points calculations.
Could the IRS decide to increase audits of TT returns, knowing that the software creates incorrect results and that TT clients are using kluges to work around TT's erroneous software?
Should I resort to printing the return and mailing it?
Do I buy another program and start over from scratch?
TT needs to publicly address these issues and their recommendations by March 1 at the latest!
