RaifH
Expert Alumni

Deductions & credits

No, do not ignore the second Form 1098. The worksheet for multiple home mortgage interest forms should be loaded into TurboTax on February 17, 2022. This should account for the fact that you only had House B for two months of the year. The IRS allows for the average balance throughout the year, so for your second house that would be something like $750,000 * 2 / 12 = $125,000 for House B since you only had it for two months. Once the worksheet is in TurboTax, it should calculate this automatically, or you can use the average mortgage balance prescribed by the IRS.