I refinanced twice my home mortgage in2020. My mortgage is $600000 but TT has added up 3 times to $1800000. How to correct this? Thanks

[kamimannz321]

I paid $21000 interest but TT has it $7500. TT worksheet is inaccurate. How to correct this?

[DaveF1006]

It tripled your mortgage balance and that is not right. We are not going to allow this, at least not on my watch. Here is a solution that will resolve your dilemma.

1. Enter the first 1098 from you original loan exactly the way it is listed on the form.
2. For the refinanced 1098's, enter those exactly the way they are recorded EXCEPT for one thing.
3. In box 2, indicate the mortgage balance is 0.This will insure your Mortgage balance is reported at $600,000 and not $1.8M. 
4. You should now be able to claim the full $21K in interest.

[Edited 02-28-2021|01:14 PM PST]

[kamimannz321]

I will try again. Thanks