For my Fed Review I was asked to enter the following info Limited interest and points must be entered. Limit Int/points on 1098 Isn't TT supposed to do this for me?

[hallmail]

I consolidated a 1st and a 2nd in 2020 and paid points on the new loan.  I entered all the 1098 info correctly and I'm not sure why TurboTax is asking me to enter this info?  I don't know what the answer is and was assuming that is why I'm paying TurboTax to do these types of calculations?

[Cynthiad66]

Yes.  You are correct, TurboTax will do all of this for you.  However, there is an issue with this deduction and we are working overtime to correct it.  Here is what to do, for now.

Some TurboTax customers are experiencing the following error message when running the Federal Error Check

Check This Entry:

Tax and Interest Deduction Worksheet: Limited Interest and Points must be entered

If you're experiencing  the error above,  please go here to receive email notifications when any updates related to this issue become available

Points are prepaid interest and may be deductible as home mortgage interest, if you itemize deductions on Schedule A (Form 1040), Itemized Deductions. If you can deduct all of the interest on your mortgage, you may be able to deduct all of the points paid on the mortgage.

[hallmail]

Hmm, well I already filed so hoping that doesn't come back to bite me.  Also I'm in line for the "My CA return is still pending complaint group" I suppose it could be due to the issue you have outlined above ¯\_(ツ)_/¯