How to transfer refinanced mortgage balance in TurboTax Online to Deductible Mortgage Interest Worksheet?

[tinyamho]

It seems TurboTax Online 2023 is not transferring the balance in the mortgage of our second home to the Deductible Mortgage Interest Worksheet. This lowers the total balance of our mortgages and it allows too much deduction.

I have already deleted the 1098 and re-entered it manually, but the average balance is still not showing up in the worksheet.

The mortgage in question was refinanced without cash-out. If I indicate to TurboTax that it was NOT refinanced then the average balance will be transferred to the Deductible Mortgage Interest Worksheet successfully.

[AmyC]

Since you understand the rules and limitations, I suggest you override the computer with the correct entry. Remember the IRS only gets Sch A with the final number listed. It doesn't get worksheets. The IRS gets the forms from the mortgage company. They are looking for you to claim based on what they receive. 

You can use Table 1 Worksheet to Figure Your Deductible Mortgage Interest.  You have two ways to enter your mortgage information.

• After you enter all Forms 1098, continue on in that section until you see "Your mortgage is being limited." On this page, you can enter your interest calculation. This replaces the program calculation and reports the entry you make here. TurboTax provides this option because of situations like yours.
• Another option, is to enter one form, say the balance is below the limitation, enter dates as needed, enter the correct amount.