The amount you can deduct is based on the combined debt for both houses since they are your personal houses and is limited to the amount of interest paid on a loan balance of $750,000, for loan starting after December 2017.
If one was a rental then the amount for the interest paid would be deducted on Schedule E and you could take the full amount of interest paid for your house up to the $750,000 and the full amount of interest paid for the rental property.
Can I deduct my mortgage?
@robashmeg
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