While reviewing the itemized deductions, I did not receive any guidance regarding Ponzi losses, nor did I find any questions from the chatbot related to investment interest expenses. I tried this with multiple clients. Since most taxpayers who itemize could benefit from these deductions, the chatbot should be asking questions about them. When I was reporting mortgage interest, it did not ask about the year the loan was taken. This is important because the maximum principal limit for this deduction was changed from $1,000,000 to $750,000 under the TCJA of 2017. The system also needs to ask if there was any refinancing on an existing loan before 2017. It needs to calculate the proportionate interest amount based on the principal limit. https://app.instead.com/workspace/3aa1225a-381e-4185-a4ef-65bce9c6be08/2024/entity/3aa1225a-381e-4185-a4ef-65bce9c6be08
