I worked through the Publication 936 table a number of times to make sure everything was accurate in the calculations. Before doing the calcs, I did confirm in TT that for 2024, I entered the correct total interest paid that year and the Outstanding Principle. My original entries into TT were exact matches to the form I received from the mortgage company.
For the table, first I don't have any grandfathered debt so part 1 of the table resulted in $750k qualified loan limit.
Next, for Part 2, I needed to find the average balances of all mortgages. With the 1 mortgage involved, I took the 2023 outstanding balance on the tax form and added that to the 2024 outstanding balance on the tax form and then divided by 2 per the instructions in publication 936 (these are the only two numbers TT would have also had for calculations as I have been using TT for my taxes for the past 20 years). After finishing the remainder of the table, the calculation for line 15 (Deductible Home Mortgage Interest) was $36,024. On my tax return for 2024, TT calculated $36,601 or a different of $577 in my favor.
It is impossible to get anyone live on the phone to discuss. Any thoughts or ideas on how to get TT to pull the worksheet they used to determine the deductible home mortgage interest amount for my situation to determine if there is a calculation issue? My second concern is if there is an error, how they suggest I amend the return given if I update the interest amount in the online version to the amount it should be (different than what was on the tax form from the mortgage company) it will then apply a calculation to that correct amount and the number will be wrong again. Basically, there isnt an option to tell the online version to disregard the calculation and just use the number I input.
Thank you for any help you can provide. I am so incredibly frustrated that I have paid for and used this product for so many years and the one time I need some support they act like I am not a loyal customer.
