I sold my home in October 2024 and purchased another home in the same month. The mortgage interest is totaling roughly the same as in 2023, where I owned the first home the entire year. ~$20K in interest. For my 2023 taxes I was able to use all 20K as a deduction. In 2024 turbo tax, it's capping me at 12K, despite having the 20K documented. I have a feeling this is related to having 2 loans >750K, when in fact I never had both at the same time. I make a little more salary but not enough that I would expect such a big difference. Any suggestions on where I went wrong, perhaps with how I entered the home sale and new purchase? Is it possible I'm capped due to salary?
