I have a mortgage from before Dec 2017 (for ~700K) and one from after (for ~500K), I believe I need to limit my mortgage interest deduction, but Turbo Tax won't let me do this.
I get to this screen after entering my 1098s, I initially selected No, but now when I select Yes, it just reverts back to No
You may need to limit the deductible mortgage interest on your home acquisition debt if any of these situations apply:
Average loan balance exceeds $1 million ($500,000 if Married Filing Separately) for loans secured on or before December 15, 2017.
Average loan balance exceeds $750,000 ($375,000 if Married Filing Separately) for loans secured after December 15, 2017.
Yes, one or all of these situations apply to me.
No, none of these situations apply to me.
