When I first entered my 1098s, at some point TurboTax asked me to manually calculate and enter an adjustment to my mortgage interest deduction, based upon the ReFi being over $750,000. I have now read that because the ReFi is of a mortgage that existed before Dec 2017, it is grandfathered to the full amount.
How can I change the mortgage interest deduction amount back to the full amount of the interest paid? I can't find it. I even deleted the 1098s and re-entered them but somehow TT is still holding onto my original amount.
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I managed to solve this problem myself, after seeing someone else with a PC version of the software talk about going to Forms mode and editing the form directly.
I found under Tools that I could DELETE the interest deductions worksheet. This prompted TT to ask me again as part of Federal review.
I managed to solve this problem myself, after seeing someone else with a PC version of the software talk about going to Forms mode and editing the form directly.
I found under Tools that I could DELETE the interest deductions worksheet. This prompted TT to ask me again as part of Federal review.
Yes, you are correct!
See below for a Video: Deducting Mortgage Interest and Property Tax to know more about the rule changes.
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