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Deductions & credits
This is a non-solution, based on this the software will for sure compute the wrong deduction. Simple example: 1M mortgage & 1M refinance, 25k interest (on each) .... the proposed solution would show 2M loan, 50k in interest and would incorrectly limit the deduction to 750k/2M = 0.375 * 50k = $18,750; when the deduction should be 750/1M = 0.75 * 50k = $37,500.
‎February 9, 2021
4:50 PM