Multiple 1098 forms for same property increases taxes owed

[serg87]

I have two 1098 forms, one from Wells Fargo and one from Quicken Loans. Both are from refinancing the same property. When I entered all my information from Wells Fargo my taxes owed decreased. After I entered my second 1098 for from Quicken Loans my taxes owed increased. The software seems to be adding up the principal loan amount from both forms. I don't want to combine information from both forms into one because that is not a solution. When will Turbo Tax provide a proper fix for this issue? This has been brought up multiple times and the only solution anyone has is to combine the forms. This is not a solution. Its more of hack job and taxes are too serious to provide a hack job solution. 

[JohnB5677]

If you've refinanced or had your mortgage lender changed, the outstanding mortgage principal listed in the combined total of them on Line 2 of the 1098 will be too large.

When you put an outstanding balance in both forms, then the program adds them together and if that number is greater than $750k, then it puts you in the category to "limit interest".

To get that to go away, you need to go back to the deductions section and click on "edit" mortgage interest statement. Enter both 1098's.

Change the line 2 of the mortgage that you no longer owe on (like the one that you refinanced and paid off) to a 0 (zero) because you have refinanced out of that loan and no longer have an "outstanding mortgage principal".