@JohnB5677
Thanks for the reply!
So my 1098 (provided by the bank) does not have $0 in Box 2, but you are suggesting that it is incorrect or that I should over-write it and enter $0 in TurboTax?
That works to an extent. However, then when I put the 1098 in for the current (new home) which is above the $750K threshold, it is coming up with the allowable rate and then applying it by ALL interest on both 1098's. Which I believe is incorrectly decreasing the amount that should be deductible.
IMO it should be:
1.) Mortgage that was below the threshold - 100% of this interest is deductible.
2.) Buy new house, mortgage is above threshold - do the worksheet to come up with reduced interest allowed to be deducted.
Let me know your thoughts
