aravjani
Returning Member

Deductions & credits

Im fairly confident about this.  I hit the 10k cap on SALT.  Plus 16k in the new mortgage (a percentage of which should not be deductible b/c over 750k) and 5K from the previous home (all under 750K, so deductible).  So I should have around 19k in mortgage interest, plus 10k SALT, plus some miscellaneous charitable contributions.  I should be near 30k deductions, versus standard at 25. 

 

I think turbotax is adding the two mortgages together, even though I never held them at the same time, and determining that the percent I can deduct is much lower.

 

How can I fix this?