Question

What is limited amount to report on Sch A, line 8A? I didn't use points, I didn't refinance. I have answered no to all the questions and TurboTax won't do the calculation

Forum|Forum|5 years ago
January 30, 2021
1 reply
0 views

Do I just say 0? Is this because I received two 1098s, because the loan was bought by another company? Is TurboTax adding the loan amounts together and thinking that I have loans in excess of $750,000?

TurboTax Deluxe Online

A

Acarmichael13

I am also in this same exact situation. I am guessing the question above the line A-2: Does your mortgage interest need to be limited: needs to be changed from yes to no, somehow. But, I can't figure out how to do it as it is greyed out.

S

samrom90Author

I spent two hours on the phone with TurboTax yesterday and it was not resolved.

This is a known error that they had last year as well. You'd think they'd have gotten their act together.

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/turbotax-is-incorrectly-combining-mortgage-loan-principal-from-multiple-1098-forms-due-to-a-mortgage/00/1058783

A

Acarmichael13

Ok, So I tried out taxslayer as a different option and it is good to go. In fact I compared it to the numbers that turbotax was giving me and it is identical, just without the error. The error is 100% due to whatever form or algorithm turbotax is using to calculate their numbers.

Taxslayer was also cheaper. Give it a try, I'm done with turbotax