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Received 3 1098 forms and having an issue calculating the Mortgage Interest Deduction
I sold my previous home (purchased in 2014) in 2022 and purchased a new home in 2022. I received a 1098 for the home I sold, a 1098 from the original lender for my new home, and a 1098 from the current lender. I entered the 1098 for my previous home (loan was less than $750,000) without an issue. I entered the 1098 for the original lender for my new home (loan amount over $750,000), but it only contains the box 1 amount and box 3 date. The lender that took over my current mortgage loan provided amounts in box 1, box 2, and dates in box 3 and box 11. I entered all of the information, but it appears that turbotax is calculating the deduction by adding box 1 for the previous home and box 1 from the original lender for the new home, but only calculating the $750,000 limit for box 1 amount from the current lender. I thought Turbotax would add the mortgage interest for my new home from the original lender and current lender and then apply the $750,000 limit?