The mortgage interest deduction may not be straightforward. If the home debt is over $750,000 for Married Filing Jointly or if the second mortgage was not used on home improvements, the deduction is reduced or eliminated. Without being aware of these limits, the necessary details may not be entered to capture the situation accurately.
The total itemized deductions are then compared to the standard deduction.
For more instruction, see:
What do I do if I have multiple 1098s from refinancing my home debt?
Deducting Mortgage Interest FAQs - TurboTax Tax Tips & Videos
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