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Deductions & credits
In my case I have a limited home mortgage interest deduction. For the reasons mentioned in other postings, TurboTax is not calculating the interest deduction correctly. I just spoke to TurboTax customer service and the representative suggested that I manually override the limited home mortgage interest deduction to correct for the bug in the software instead of changing any of the inputs relating to Form 1098. I expect either approach would get you to the right end result. Since the information on Form 1098 is furnished to the IRS, I was concerned that changing any of the inputs might trip a flag for the IRS. I am able to override the limited mortgage interest deduction on the "Mortgage Interest Limited Smart Worksheet".
March 20, 2021
9:47 AM