I know I can go to the Tax and Interest Deduction Worksheet and override the line for Limited amount to report on Sch A, Line 8a which I did. That does give me the proper deduction on Schedule A but Turbotax should calculate that number correctly (which it doesn't). In order to get credit for all the interest paid the debt for couples must be less than $750000. If you have 3 1098s due to refinancing and mortgage companies selling the loan the program takes the average amount of each loan (determined by adding starting balance to ending balance and dividing by 2) then ADDS THEM TOGETHER and calls it the Average balance of debt acquired after December 15, 2017. It's not the average it's the TOTAL Turbotax uses. In my case my outstanding loan was never over $640000 but Turbotax uses the total of all 3 loans (all on the same property and 2 of which were paid off due to refi) giving me an AVERAGE balance of $1,276,000 which is over the limit. Since I over rode the amount which goes to Schedule A I have the proper deduction but how many Turbotax customers are even aware of this? Turbotax should fix this to make the correct calculation and not rely on the client to override the wrong calculation.
