Solution:
Open Forms & go directly to the Home Mortgage Interest Worksheet (Home Int Wkst in the quick list on the left).
It is actually a 2 page form that has a place to enter for "D Date loan was paid off, if paid off in 2020" and "E Outstanding mortgage principal as of 12/31/2020 (or pay off date, if applicable)".
Check box #9 on the worksheet: "Check this box if you refinanced..., paid off..., or sold..."
When you have multiple 1098s for the same property, enter in sequence from oldest to newest. Enter the SAME DATE of the subsequent origination (newer or current loan) that you enter in "D Date loan was paid off," and "$0" in "E Outstanding mortgage principal" (the loan was paid off by a newer loan).
Once you have completed the oldest loan in 2020, use "Quick Zoom" at the bottom of the worksheet to open a second blank worksheet to enter the information for the next or current loan.
This is what I did and then I checked my Schedule A to make sure it worked as expected. The mortgage interest was combined perfectly for both loans at almost $19K without limiting to a little over $14K like it was before!!
I learned that using the default deduction wizard skips important information that you can enter yourself if you go directly to the forms and answer all pertinent questions for each loan appropriately. Entering this info in the worksheets enables TT to differentiate between concurrent loans and a single loan for your primary residence that changed hands throughout the year resulting in multiple 1098s.
Hope this helps.
