Hello! I'm in a similar situation. My spouse & I bought House A (primary residence) in August 2020, then sold it in September 2022. Box 2 of A's Form 1098 says ~$737,000. We bought House B (secondary residence which became our primary residence when A was sold) in July 2022. Box 2 of B's Form 1098 says ~$594,000. Can we deduct the entire amount of mortgage interest on both houses? Or is the deductible amount limited because the sum of mortgages exceeds $750,000? Even if our held mortgages only exceeded that amount for a couple of months? If so, what is the appropriate formula to calculate the deductible portion of mortgage interest? Thanks!
