Lacerte isn't acknowledging the new $750,000 cap on mortgage principal regarding interest

[rebecca]

Lacerte 2018 has the excess mortgage worksheet under itemized deductions, but I'm only seeing that it references the $1,000,000 cap on principal. If the client purchased their property after 12.15.17, they're supposed to be subject to a $750,000 cap instead, and I'm not seeing a workaround to force the program to take a different number if that's the case. I've compared the work Lacerte does to what I get using the IRS provided worksheet (in pub 936), and the difference can be significant. 

Does anyone have a workaround on this until Lacerte fixes things on their end?

[sjrcpa · Accepted solution]

You could enter only the deductible amount.

You could wait for the program to be updated.

[IntuitBoris]

Lacerte Development received Pub 936 from the IRS late last week. It contains the mortgage limit calculation worksheets and we are working on those now.  I would anticipate they should be available by the end of January.