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How do I get TurboTax to apply the 750,000 debt limit for deductible mortgage interest? It is currently considering *all* my interest deductible, which is incorrect.
I bought and sold a home in 2019. The sale took longer than expected, and I owned both for a few months. Accordingly, my total debt for 2019 exceeds the 750,000 limit. However, when I enter both 1098's, TurboTax considers *all* my mortgage interest paid in 2019 qualified for deduction, instead of just the interest up to the 750,000 limit. I don't know how to get it to apply the correct multiplier to my mortgage interest paid. I have tried entering and re-entering the 1098's several times.
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‎July 7, 2020
4:01 AM