instructions.
We bought our main home last year in early 2019. We then refinanced the original purchase loan in late 2020 solely to drop the interest rate.
The federal review error is taking me directly to the form and want even let me see what 'line 8a' even is. Need some help here
Your home mortgage interest deduction may be limited. There is a limit on the amount of debt that interest can be deducted on. If you meet the other requirements and your loan is for less than $750,000, your deduction is not limited. TurboTax will calculate the amount of your deduction for you based on your 1098 entries.
The IRS lets you deduct your mortgage interest, but only if you itemize deductions. You can't deduct the principal (the borrowed money you're paying back). In addition to itemizing, these conditions must be met for mortgage interest to be deductible: