Thanks for the response and help.
Okay so, I am planning to leave it as TurboTax is doing right now in its default behavior i.e
1. It has calculated the interest paid across two loans by adding them up.
2. It has calculated the average based on most recent loan first and last month omitting the previous loan 1098.
Yes, the refinanced loan 1098 has an origination date mentioned on box 3 in 1098.
3. After calculating the above, since my original loan was taken after 2017 I am only qualified for deduction on 750k. So it does (750,000/avg. balance) * total interest paid across two loans and mentions that as the federal deductible.
Can you please confirm that it okay to file the taxes with this calculations which TT is doing by default?
Thanks.
