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Deductions & credits
Since you have more than two 1098's forms, I will recommend you to combine all 1098 forms and enter as one. The limits apply to home debt over $750K does not change. I am attaching a TurboTax link for the instructions how to do claim your mortgage interests. Click here:
For tax years prior to 2018, your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total more than $1 million ($500,000 if you use married filing separately status). Beginning in 2018, this limit is lowered to $750,000. For more information about the mortgage interest deductions, click here: Mortgage Interest deduction
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ā€ˇFebruary 9, 2021
9:02 PM