nacorkum
New Member

How do I indicate to TurboTax that my mortgage interest deduction should be limited? For part of the year I had over $750k in mortgage debt but it's not limiting it.

I owned 2 houses for all of 2019, one with mortgage of $520k and the other with mortgage of $300k, which add up to $820k. The $300k mortgage is from 2018, so my understanding is I fall under the $750k cap. However, Turbotax is including the entire mortgage interest amount on my return and not asking me any questions about this situation, so I don't know how to fix it.

Even more detail: The property with the $300k mortgage was converted to a rental property in April 2019, so I have prorated and split the mortgage interest (and property tax) amount between the sections that add it to Schedule A and Schedule E; not sure if this is somehow breaking TurboTax.