I know my mortgage interest deduction is limited to less than what is reported in my 1098. How and where do I enter the lower amount. The Home Mortgage Interest Worksheet just says enter the amount in the 1098, but there is no place to reduce it. You can say your interest is different than the 1098, but the worksheet assumes you paid more not less.
What is the right way to do this? Either in Turbotax or in a form or worksheet.
It seems like 2018 TT has quite different handling of "Mixed Use Mortgage Interest" which results from previous refinancing of loans secured by a primary residence. In the past there have been Mortgage Interest Limited smart worksheets to allocate Grandfathered Debt, Home Acquisition Debt and HELOC Debt amounts when refinanced into one. As I'd previously had amounts in those work sheets from previous years TT use, is 2018 TT still using and carrying forward the allocations that I had assigned to each of the categories? It's a complex calculation but TT has had schedules in the past to both calculate and track. Seems like in 2018 TT all seems to center around the 'current year' or loan in effect this year without handling the historical Mixed Use Mortgage components that are addressed and still in effect in Pub 936 for 2018. While there appears to still be some unclear areas of the 2018 changes, the Mixed Use Allocation requirements remain but TT no longer handles the same ???