Yes, @Bostondoc84 , those appear to be the three unfortunate methods.
I've entered the information for the 1098s in multiple different ways and am convinced that this is an issue for 100% of users who refinanced a mortgage this year. Likely, this is going partially unnoticed for some users the following reasons:
- The mortgage principles for some users may be low enough that even when the program incorrectly sums them it's still under the limit;
- Users may not be paying close attention to the amount of the return so the change that occurs with the second refinanced loan 1098, they don't notice; and/or
- Pro users using the proconnect version and know about the workaround here (https://proconnect.intuit.com/community/individual/help/entering-a-refinance-in-the-excess-mortgage-...) are used to many exceptions are are accustomed to editing the worksheets or forms.
@TurboTax, we are trying to help you: this error is causing an erroneous adjustment in the allowable credit lowering individual's tax returns. The many users in this community have outline the exact problem: TT is treating refinanced mortgages on the same property as though they were 2 mortgages and subjecting them to the limits when the principles are summed or otherwise calculated incorrectly.
Will someone at TT please review this issue? I think any one of the many posters where would be happy to show exactly where on the worksheets the error is occurring.
