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Deductions & credits
sorry, this doesn't really help. maybe I need to clarify further.
yes, my mortgage is > $1M, but I should be able to deduct the interest of the mortgage up to $1M since the home was originally purchased in August 2017.
I combined the interest paid (Box1) for the two 1098s, not the mortgage balances. When TT asked for more info to support the mortgage interest deduction, that's where I put in the mortgage balance as of 1/1/2022 and that the original loan was taken out before Dec 15th, 2017. I think after this point, the mortgage interest was removed from the itemized deductions and my tax liability increased.
March 24, 2022
4:37 PM