AmyC
Expert Alumni

Deductions & credits

The worksheets are not a part of the return. You can make one correct entry instead. Your goal is to file an accurate return.

 

See About Publication 936, Home Mortgage Interest Deduction part II on page 9. Use  page 12 to combine all loans. Only one table, table 1, is used for all of your loans in one place. The instructions to go through line by line are after the table. There are examples throughout to help you. 

 

Page 13 has mixed-use mortgages.

 

In addition, we have found many people are not using the information in the pop-up window explaining how to work with some situations. In the program, there is a pop-up box which explains to use the original date for the refinanced loan to get the grandfather rule. Otherwise, you will not get the deduction. This is only true if the refinanced debt does not exceed the debt balance at the time of refinancing. 

 

@jxman

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