Hi @RaifH , Another year - another question!
I've owned one house all of 2022, but refinanced two loans in February '22 into one loan.
So Jan/Feb: had two loans totaling ~850k
March-Dec: had one loan totaling ~850k.
Lets say I paid $25k in interest across all three loans. Since the loan prices were about the same, my thoughts for the max interest I can deduct is $22058 ($25k * 750k/850k), since $750k is the max loan I can write off interest for.
My question: 1. would this method be accurate? and 2. How do I best input the 1098s to match this new value which does not align w/ turbotax's calculation? Is the recommended method to input the three 1098s as written, but then enter the $22058 value under the 'Your Adjustment' box of the 'Your mortgage interest is being limited" screen?
THank you!
