I tried combining them and it actually said we are better off taking the standard deduction - which is nonsense. When we refi'd, we took out some cash. We took out a refi mortgage just over the 750k limit. I entered the amount we took out in cash for the refi loan screens (less than 10% of the refi'd mortgage) but it is allowing us to deduct only about 60% of our interest. None of the advice being given is helping out. Entering $1 for the originating mortgage principle ($0 is not an option) on the loan we paid off shaves off about $3k off of our taxes. Any tips? This is just nuts.
