Hi,
I too have a similar question as Confused_in_CA regarding the new mortgage interest deduction for 2018. My wife and I sold a home in Nevada in Feb 2018 ($175,000 loan) and purchased a new home in California in April 2018 ($850,000 loan). Being that the new tax rule limit of $750,000 of allowable deduction for mortgage interest, how much can I actually deduct since I did not pay mortgage interest for the full year of 2018 (only April-Dec). I am a bit confused on how to calculate this.
Thanks!
