I sold my primary home in Sept 2022. The mortgage on that home was almost paid off and thus only had a small balance. In July, 2 months before closing on the sale of my old home, I bought and closed on a new home. So I took out a large (jumbo) mortgage to buy the new home (since the old home was not yet sold). Almost immediately after closing on the new home, the lender sold my new mortgage to another lender. As soon as I sold the old home, I paid down over half of the new mortgage and the balance was greatly reduced. So, I only had the large jumbo mortgage for about 3 months. At the close of 2022, I received 1098's from both the original jumbo lender and the new jumbo lender that bought the mortgage. Both 1098's show the jumbo balance in Box 1. (I also have a 1098 from my old home, which shows only a small balance for 9 months of the year.) I somehow think that the best way for me to calculate allowable mortgage interest deduction is to use the "Interest Rate Method" where the 'Interest Paid' is divided by the 'Interest Rate.' But how to tell Turbo Tax that I am using this method? If I use it and enter the Method's recalculated amounts for the Box 1's on the 1098's, it won't match the 1098's that were sent to the IRS. Does that matter? Any suggestions are appreciated.
