I have 2 mortgages and both have a date of origination of 2021, which means that my mortgage deduction is capped at the $750,000 loan limit (married filing jointly. However, Turbotax does not calculate a reduced mortgage interest deduction given that my mortgage total is larger (combined $1.3M). The Schedule A that is generated by Turbotax shows a deduction of the entire mortgage interest. This is why I got audited and the IRS says I owe them $13K.
