Deductible Home Mortgage Interest Worksheet 2020 - Error Avg Balance

[GSD77]

Absolutely correct, shouldn’t assume anything.  Just figured they were itemizing deductions, but with increase in std deduction and SALT limitations a lot aren’t itemizing.  I stand corrected and thanks.

[holm0246]

I received this from TurboTax and just read through this entire thread.  I could not be more irritated that this was a known bug in the software and was (as far as I can tell), never fixed.  Do I have any recourse beyond the ridiculous software refund that TT is offering (which by the way I had to call them three times to get them to initiate)?  Could not be more upset as a longstanding TT customer:

Hi, We recently discovered a TurboTax calculation error that requires a small number of our customers to amend their 2020 federal and (if applicable) state tax returns because the deduction for mortgage interest was overstated. Due to this error, you underpaid your federal and (if applicable) state tax returns. We understand that finding out you owe more taxes is not good news, and we want to make things right. We’ll automatically refund you the cost of your federal and (if applicable) state TurboTax products if you made the purchase through Intuit. * For all of our customers who purchased TurboTax from a third party, please contact us at the number below for a full refund. This particular correction will need to be made using our TurboTax Desktop product. To correct your return, please follow the steps below. Use TurboTax to amend your tax return(s). You can find detailed information here: 2020 Federal Mortgage Interest Limitation Follow the instructions provided by TurboTax to e-file or mail the amended tax return(s). Save a copy of your amended tax return for your records. We encourage you to contact a TurboTax expert if you need help amending your return(s). Experts are available at [phone number removed] (Monday–Friday, 5 AM to 5 PM PT). When you speak with an expert, mention 2020 Federal Mortgage Interest Limitation so they know exactly what you’re calling about. As a part of our Accurate Calculation Guarantee, TurboTax will also reimburse you for any penalties or interest you’re assessed as a result of this error. We truly apologize for any inconvenience this may have caused and want to thank you for being part of the TurboTax family. Warm regards, The TurboTax Tax Accuracy Team * Please allow 2-3 weeks for the TurboTax refund to appear in your account. Your refund will be applied to the same payment method you used to pay for TurboTax.