Since your mortgage is over the $750K limitation you will have to manually compute the portion that should be on Schedule A and Schedule E and enter each manually in the Interview section of each form (Schedule A and Schedule E).
For example, if your mortgage balance is $1 million you would divide $750k by $1 million to get .75. If your mortgage interest was $80K then multiply this amount by .75 which results in a mortgage interest deduction of $60,000. You will then allocate the $60,000 between Sch A itemized deduction and Schedule E. Please keep a record of your calculation in case you need to provide support to the IRS.
@Anonymous
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