- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
‎February 18, 2022
9:31 AM