I have this exact same issue, which I'm assuming is fairly common, yet Turbotax seems to be completely clueless about it and your software clearly has bugs. I could never quite recalculate the mortgage interest deduction that Turbotax came up with in past years, but it was close enough to my own calculation (within $100) that I just let it go and filed with the Turbotax numbers. This year (2024 tax year) it is off a SIGNIFICANT amount. In fact, it's calculating an interest deduction that is HIGHER than the total interest paid per my Form 1098, when in fact I did a cash out refi a few years back and only ~83% of my interest should be deductible for 2024 (i.e. the deduction should obviously be LOWER than what's on Form 1098). This isn't just a rounding difference and would probably trigger an audit if my mortgage interest deduction starts INCREASING vs. previous years while my debt balance is decreasing from year to year. Interestingly, it is off by the total amount of points I paid when I refinanced 4 years ago, even though I'm amortizing that over 30 years and it's just a small deduction each year. Why did you suddenly add that full amount to my interest deduction 4 years later? It is just carrying forward the historical points information (I'm not populating that anew) for amortization purposes and I'd be doubling up the deductions to take the full amount again on top of the previously amortized portion. So I don't want to delete the points information as it's valid and necessary.
I just spent over an hour on the phone with a rep who did understand my issue and tried her best but is not able to override/correct the wrong interest amount on my Schedule A. She also suggested the desktop version but why should I have to pay for another copy of Turbotax PLUS enter everything again from scratch and then also have to import all of my history from the online version? That's ridiculous! The rep alternately suggested I upgrade to have Turbotax prepare my return. Also ridiculous since I'm a CPA and know how to prepare the **bleep** thing. Maybe if the service were free given all the time I've wasted on this already. I was all ready to file until I noticed this error and now I'm just screwed. Get it together, Turbotax!
How can I reach someone in management who can actually fix this for me??
