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Deductions & credits
So i updated the desktop version with the supposed fix for the loan balances being added together when calculating the overall loan amount for Mortgage interest deduction. I am still having an issue with the mortgage interest being reduced and that should not be the case.
- Original Loan $521,576 originated 09/21/2016
- HELOC Loan Balance $96734 originated 04/30/2018
- Original Loan refinanced 08/2020 - $514,062 / Took out 40K
- New Loan - $566,006 - One payment was made to this lender then they sold it to
- 2nd Lender - $566,006 and have been paying them ever since
- So I have 4 1098's
- All proceeds have been used on the house to upgrade
- I cannot get the program to allow all of the mortgage interest and it should since non of the loans were ever over 750K
- I manually edited the Schedule A and it works correctly until I get to the State return then the issues impact the State mortgage data
Not sure what to do as I have been doing my taxes for 35 years and have never had this kind of issue
‎February 11, 2021
6:15 PM