@Opus 17 I just ran a scenario, whereby I took last year's tax return and amended it by adding an itemized deduction for $30,750 mortgage interest based on an 820K mortgage. When I looked at the breakdown of the deductions being made, it had $28,125 for all deductible interest and $10K for SALT. What I don't understand is I don't think I have 10K worth of SALT deductions. I input zero property tax and I thought SALT was made up of State and local income taxes which on my state tax return come to only $3,739 not 10K. Is this a mistake in the calculation or is the property deduction coming from somewhere other than the mortgage interest and property tax?
This was based on a Federal AGI of $73,920
Thanks.
