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Deductions & credits
I have a similar, but different situation.
We sold and bought a home in September.
The sold home was ~$500K in principle. The purchased home was >$1M, and we have 2 1098's, one from the initial mortgage and one from the back who bought the mortgage.
I've played around with "gaming" the tool a couple of different ways, to include combining the 2 1098s on the new purchase, yet it seems to always reduce my deduction no matter how I enter it.
Can you please provide guidance so I can get the full - I guess up to $750K - deduction? Maybe I'm doing something wrong with the sale...don't know.
Thanks
March 24, 2021
5:51 PM