Question

Hello folks ... I refinanced a jumbo loan in 2020. The IRS worksheet shows all interest is deductible and not subject to the $750K limitation. Turbotax limits it and will not let me manually input the full deduction. Please advise? Thanks

Forum|Forum|5 years ago
May 12, 2021
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Employee

These are your taxes and you want them done right. Lie to the program. The schedule A only shows the deductible mortgage interest. All the extra stuff is used to calculate those limits for you. Put in a lower balance so the program won't limit your interest.

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