Your mortgage interest deduction is generally limited if all mortgages used to buy, construct, or improve your first home (and second home if applicable) total $750,000 ($375,000) if filing married filing separately status. If the amount borrowed was more than $750,000 you are not able to deduct all of the mortgage interest that you paid.
Please see this TurboTax Tips for Deducting Mortgage Interest FAQs.
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