DianeW777
Employee Tax Expert

Deductions & credits

You should use the number of months you actually had home during the year, secured by the loan.

  • For each mortgage, figure your average balance by adding your monthly closing or average balances and dividing that total by the number of months the home secured by that mortgage was a qualified home during the year. 

    If your lender can give you your average balance for the year, you can use that amount.

 

 

 

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