Carl,
Thank you for the reply. Can you please elaborate - I am not following. Maybe I am not understanding your answer. I have a schedule C with my return. As an example but not the actual amount.
Personal Deduction and Credit - Mortgage interest, Refinancing and Insurance (17k). Not all of the interest is deducted since only 750k is allowed - that is my understanding.
I have a difference between form 1098 (24k) and what is allowed as mortgage deduction (17k)? 7k of difference.
Do I report the (7k) difference of my mortgage interest above 750k in the home office section as excess mortgage interest or leave it zero? Let me know if my question is clear or confusing. I can provide more detail. Thank you in advance for your answer.
