Is there a moderator from TT / Intuit on this forum?
I think I found the bug in further digging into why the tax due/refund changes significantly. In a nutshell, Sch A line 8 is not taking into consideration rental property interest allocation from Sch E line 12a when second refinanced loan is added and it changes the deduction to standard deduction instead of itemized deduction.
I'm unsure of the fact if Sch A is supposed to use sum of effective interest from mortgage interest work sheet line 16 + Sch E line 12a to begin with.
Response from moderator will be appreciated.
Thanks!
