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Deductions & credits
Hi, I've had the same issue discussed in this thread, but I don't see a resolution.
Specifically, I have a grandfathered mortgage of about $1.5m. I'm allowed to deduct mortgage interest on upto $1m of the loan, so calculated 1/1.5 (67%) of the interest and entered that for my federal tax return.
On the CA taxes, there is a screen that allows you to made adjustments to the federal amounts. I use 1.1/1.5 (73%) of the interest paid for CA, however TT doesn't use this number in the CA adjustments page. It looks like a bug on the online TT version.
Can someone help?
‎October 16, 2023
12:14 AM