Turbotax is not calculating refi points deduction correctly.
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Turbotax is not calculating refi points deduction correctly.

I refinanced in 2009 paying $2400 in points.
I amortized the point deduction every year:
2009 47
2010 80
2011 80
2012 80
2013 80
2014 80
2015 80
Total $527.00

Remaining:  $1873.00.

I refinanced again in 2016.  I should be able to deduct the remaining $1873.00.

Turbotax is filling in the full 2400 I originally paid in 2009.  I am going to override and enter $1873 but you should be aware the workflow / calculation for points is misleading and does not tell the tax filer they need to reduce the amount by points already amortized in previous years.
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New Member

Turbotax is not calculating refi points deduction correctly.

Seems to be working correctly now.

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