Yes. You are correct, TurboTax will do all of this for you. However, there is an issue with this deduction and we are working overtime to correct it. Here is what to do, for now.
Some TurboTax customers are experiencing the following error message when running the Federal Error Check
Check This Entry:
Tax and Interest Deduction Worksheet: Limited Interest and Points must be entered
If you're experiencing the error above, please go here to receive email notifications when any updates related to this issue become available
Points are prepaid interest and may be deductible as home mortgage interest, if you itemize deductions on Schedule A (Form 1040), Itemized Deductions. If you can deduct all of the interest on your mortgage, you may be able to deduct all of the points paid on the mortgage.
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