Once you have your average balance (weighted by months active) you need to overide the values within TurboTax on the "Ded Home Mort" page (Part 1 Home Mortgage Loan Information) within the Forms view (clicking the upper right corner of the application where it says "Forms"
You input your calculated average balance into the "Average balance" line.
The sum of these lines will be your actual yearly average. This value displays a little further down on Line 7 "Average balance of debt acquired after December 15, 2017" (Part 1 - Qualified Loan Limit)
- I'm assuming you wouldn't have this problem for older mortgages, if so it would show up on Line 2.
Additionally, you will also have to Override the average loan balances in your State "Ded Home Mort" worksheet.
Once updating the amount in the state sheet, you will again see the sum of all your balances update on the line "Average balance of all home acquisition debt".
Once you update only thos initial average balances you should not have to change any of the calculations below and you will be able to see the properly calculated "deductible home mortgage interest" amount.
