Mortgage Interest Deduction Error

All,

I just tried to see if TurboTax fixed its erroneous calculation of deductible mortgage interest when you refinance your loan. If the two loan amounts when added together exceed the $750,000 ( or $1,000,000) limitation even though each loan was less than the $750,000 ( or $1,000,000) limitation amount it appears that TurboTax is still not allowing you to deduct full interest, rather calculates as if loan amount is the combined amount and is above limit. TurboTax customer service, why didn’t you fix. I had some work arounds posted last year.

Anyone else try and see if it worked.

posted