topic Bug with refinance in Get your taxes done using TurboTax

Bug with refinance

Ybc82 — Sun, 11 Apr 2021 09:22:50 GMT

I received 3 Form 1098 for the loan (~$600,000) on my house in 2020, because there was one loan transfer and one refinance. After I input all three forms into my TurboTax Download/CD (Windows), clearly the software thought I had multiple loans and made mistakes in the deduction calculation.

I found this thread in the forum but it has been closed. Following the instructions given in that thread, I sent a diagnostics report to TurboTax and am posting the information required here, waiting for a reply:

Token Number: 815868
Software: TurboTax 2020 for Windows (CD/Download)
WinPerReleaseMsi Version: [phone number removed]
TurboTax.exe Version: 2020.48.23.78

Let me know how this issue will be solved, by an agent or by a software update?

I had this problem last year already and would have never expected that it's still existing this year...

Re: Bug with refinance

NCperson — Sun, 11 Apr 2021 10:49:06 GMT

assuming you have no cash out, just add all three together - it's simpler that way

Re: Bug with refinance

Ybc82 — Mon, 12 Apr 2021 13:17:03 GMT

Thank you! I understand that this would work, but I'm just concerned that in this way I'm not including the original information from 3 separate Form 1098 in my final tax return forms.

Re: Bug with refinance

NCperson — Mon, 12 Apr 2021 15:43:54 GMT

@Ybc82 - as long as you have no cash out, it won't matter; a lot of that information is to test for cashout and whether it is tax deductible or not.