I sold my home last year, so I have 2 1098 for two different homes. When I file home mortgage interest deduction, the worksheet has combined 2 loans as one to calculate qualified mortgage interest deduction. I thought each home should have $750,000 qualified mortgage interest deduction separately. Is that right? How should I file it in TurboTax Premier? Thanks,
@fan-zhou This issue is well-known. I'm going to share with you a screenshot of the "workaround". It's the best TurboTax has been able to come up with for this year. Thanks for your understanding.
@Kat Thanks for your reply, but the workaround is still not right. I should get all the interest deduction for the one I sold (<750k) and part of interest deduction for the one I have now(>750k). For the workaround, I can only get part of interest deduction for the sold one.
Thanks for reporting your experience, and @Kat for bringing it to us.
We'd like to look at this further, are you able to give us a copy of your tax return with your personal information removed? Here's how--
If you're using TurboTax Desktop follow the directions below:
1. Click into your return.
2. Click Online and select "Send Tax File to Agent".
3. This will generate a message that a diagnostic copy will be created. Click on OK, the tax file gets sanitized and transmitted to us.
4. Please provide the Token Number that was generated onto a response.
If you're using TurboTax Online:
1. Sign into your online account.
2. Locate the Tax Tools on the left hand side of the screen.
3. A Drop down will appear. Click on Share my file with agent.
5. This will generate a message that a diagnostic copy will be created. Click on OK, the tax file gets sanitized and transmitted to us.
6. Please provide the Token Number that was generated onto a response.
Thank you! I hope to hear from you soon.
GabiU