We refinanced to get cash out to help us purchase a houseboat. I understand that I cannot deduct interest paid since June (date of refi). Shouldn't I get to deduct the interest on the first half of the year? The directions were confusing. It said to combine interest paid from both 1098's, combine property tax from both. That made sense. The next instruction was to put the remaining balance from the paid off loan $0...which then gave me a red error message that it must contain a value. My solution was to put the refi balance as of Dec 31 and the acquisition date from the refi. The origination date I used the first loan. First loan started 8-9-19. Second loan (refi) started
6-5-20. Less than a year later. When I reach the end, the program tells me there are no mistakes, but I am uneasy about if I did it correctly since the directions told me to do differently. I feel I am missing out on 6 months of interest from the original loan.
