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Deductions & credits
That is absolutely right. TT treats a bought-and-sold mortgage as two separate mortgages which sum up to twice the correct amount, resulting in problems with interest deductibility if the total is over some large amount like $700k. There is no provision in EasyStep to mark these 1098 forms as applying to the same mortgage, the first up to a certain date and the second starting at that date.
For tax year 2018, when I had this situation, I ended up getting a refund for my TurboTax purchase and using a tax professional instead, at greater cost - but at least they didn't screw this up.
Please, Intuit, fix this bug.
‎April 5, 2020
4:51 PM