PatriciaV
Expert Alumni

Deductions & credits

@Anonymous  It depends. The amount of outstanding mortgage debt is used to determine if your home interest deduction is limited. If you believe your total mortgage debt is well under $750,000 (if married, filing jointly), including the co-op, you may use any reasonable estimate of the remaining mortgage balance on the property. If, however, the co-op mortgage balance may take your total mortgage debt over $750,000, you should contact the mortgage company to obtain the true balance remaining on your mortgage.

Please see this article for more info: What do I do if I have multiple 1098s from refinancing my home debt?

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