Issue with "Limited interest and points must be entered"

[pwc6t3]

Thank you for the suggestion, but it did not fix the issue.  It may have helped but I can't tell with the info they give me.

My guess is that it is still taking the one mortgage balance I held from Jan 1-May1 and but thinking it is for the whole year.  Same for the mortgage balance I had on the other property (the one that had the mortgage sold multiple times) Aug-Dec, and using that mortgage amount for 12 months as well.  That overestimates my total average mortgage balance for the year and puts me over the 750k.  Done correctly my mortgage average for the year would be in the 622k range, well under the cap.

[hardcoded]

Wow I am SO glad now that I went ahead and bought the client version instead.  The fact that this is still not fixed is so ridiculous.  

[bwortham]

This did not help me. Now it is telling me I have an error because my mortgage amount can't be zero.

[JohnB5677]

If you have multiple 1098s I suggest you enter each one separately.

If a Mortgage is paid off, or re-financed you should:

• Enter $1 in Box 2 Outstanding Mortgage principal for the Refinanced / Paid off mortgage
• Every 1098 should be posted.
• The final 1098 for that property will have the full loan amount as reflected in Box 2.
• If you have multiple properties, you should follow this procedure for each property.

This will properly record every 1098, and avoid any issue with mortgage limitations.

When you have more than one Form 1098 with the refinance info and both show the same balance of the mortgage, TurboTax adds the amounts together. And that may lead to a limitation of the deduction, because the balance is then overstated. To avoid this, make sure that you're not reporting the same mortgage balance twice.

If your combined home debt is under $750,000 ($750,000 for married filing jointly and $375,000 for married filing separately), there's nothing new for you to do in 2020. Enter each 1098 as you normally would.

[bwortham]

I am still getting the same error. I've been on the phone with Turbotax for an hour and no one knows how to fix this.  Surely there is someone at Turbotax that can override this error so I can file? 

[DaveF1006]

It depends. Tell me about each of your 1098's and whether these are for original loans or refinance. Also if for one property or two.

[Mhutch76]

Sorry to tell you this Victoria, but simply going to the "Forms" section and scrolling to the worksheet, Turbo Tax will not allow you to change the Limited interest and point from "Yes" to "No".  It is lock even in the worksheet.  I can't find any way to simply change it from "Yes" to "No".  MEH

[joann44]

@Mhutch76 this is a year old thread and the instructions are for a different year's version of TurboTax.  For better results, start a new post with your question.