Deductions & credits

@pleibrandt,

 

You can manually calculate all of this using IRS Publication 936.

But the problem is that because of this error, TurboTax software is not letting you file taxes, unless you do that cloodgy combination method.

The combining into one 1098 workaround, will be more than manual method because you have to enter numbers in wrong places to get right results on your final schedule.

We are all paying for a working software right? And this is why TurboTax exist to do it for you.

 

But if you are curious, here is the manual method.

 

Fill the following Table out on Page 12 (you can do it in Excel, create a row for each of the 16 lines), will take under 10 mins. Use Page 13, below this table to calcualte your average using any of the methods. I tested with the method circled in red.

 

Publication936-WorkSheet-Page12.jpg

 

Below is how to fill out the Table above:

 

Publication936-AverageMortgageBalanceMethods-Page13.jpg

 

You can see the full IRS Publication 936 by following the link.

 

But once again, this will let you see the numbers, but not get you to file

 

The whole combining of two 1098s is a tricky proposition, and I feel that TurboTax need to own that. Their whole idea behind this software product is that normal Americans without Tax knowledge can file taxes and their software will do the calculation for them.

 

Hope this helps anyone who wants to see what the numbers look like.