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Deductions & credits
No one at Turbo Tax can figure this out - but I did myself (after two hours on the phone with very inept representatives). HERE IS THE SOLUTION!!! Go to Forms. Go to Home Int. Wksht for the property you sold. Go down to Home Mortgage Interest Limitation Smart Worksheet. Go to Box E: Outstanding mortgage principal as of 12/31/2020 (or pay-off date...). Hard-key this to $0 (it automatically puts in the 1098 balance in there which is incorrect). Then go back to the Deductible Home Mortgage Interest Worksheet and look at line 18 to make sure it is $0, which means all of your mortgage interest has been deducted without limit. I hope this helps!!!!
‎April 14, 2021
1:50 PM