Cynthiad66
Expert Alumni

Deductions & credits

Yes, you can do the computation yourself.  One way to do this is to determine the monthly loan balance.  From the overlapping months add balances together , then only loan balance for the new home the remainder months.  Now you can determine the average for the year.  So divide the $750,000/$$$avg.  This will be the allowable Home Mortgage interest deduction.  @mm2023taxes

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