First, there is a known problem with Home Mortgage Deduction. TurboTax is working to fix the problem and the many other issues. There are many changes due to the CARES Act that require software upgrades. We have not been given an expected date for the fix yet. Please check back often to see if you can file your return.
If you have more than one 1098 form, I will recommend you to combine all 1098 forms and enter as one. I am attaching a TurboTax link for the instructions. Click here:
Multiple Form 1098s
For tax years prior to 2018, your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status). Beginning in 2018, this limit is lowered to $750,000. For more information about the mortgage interest deductions, click here: Mortgage Interest deduction Per @LinaJ2020
In late December of 2017, Congress passed the largest tax reform bill in over 30 years. Almost every individual taxpayer will be affected by these changes, as will many businesses. Most homeowners won't be affected by the lower cap on mortgage interest, but the conditions to deduct interest on home equity loans and lines of credit are more restrictive in 2018.
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