I entered the information for a $1,000,000 mortgage incurred to buy a new home with a January 2022 origination date. TurboTax is carrying the entire Box 1 interest amount to Schedule A without applying the $750,000 limitation in calculating the interest deduction. I tried deleting the form and re-inputting the Form 1098 information but the same problem is occurring. As a temporary workaround I had to calculate the correct deduction offline, enter it instead of the amount reported in Box 1 of Form 1098, check the box below the entry indicating the amount is different, and then add an explanation when prompted in a later page. This doesn't seem like the correct fix.
