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Get your taxes done using TurboTax
If you refinanced your mortgage and you have two Forms 1098 the article below will be helpful for you to enter your mortgage interest.
Any additional debt not used to buy, build, or substantially improve a qualified home isn't home acquisition debt. TurboTax will calculate the amount of allowed mortgage interest deduction based on your entry or you can choose to make the entries yourself.
- To review the information and worksheets you can use this link: IRS Publication 936, page 12 (you can make the appropriate entries by selecting 'I'll enter it myself')
Note: If the mortgage for acquisition debt (buy, build improve your home) is greater than $750,000 (or $1M for grandfathered debt incurred on or before December 15, 2017) there is further limitations.
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‎February 18, 2022
12:09 PM