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Deductions & credits
Unfortunately, when you let TurboTax lead you through the process of entering Home Mortgage Interest, it does not ask very important questions for multiple 1098s on the same primary residence.
On the actual form, there is a box for indicating that the loan was paid off by a refinance, which was my situation. I entered all the information correctly in the guided process, and didn't discover that those entries resulted in TuboTax treating my original construction loan and the refinanced loan after we moved in to our new home as combined loans instead of subsequent loans, and I ended up being limited on the interest we paid by about $4,000. TT automatically entered the form leaving out very important info such as the fact it was refinanced, and the payoff date, and that the outstanding balance at the end of 2020 was $0, While the current mortgage is the ONLY loan that had an outstanding balance at the end of 2020.