ramo503
New Member

Mortgage Tax Deduction - Two homes

Im aware that the current mortgage tax deduction is limited to $750k on your residences.  If I have one home that I purchased in 2017 (235k mortgage) and one home I purchased in 2018 (625k mortgage), how does that work?  Am I limited to 1M  (since one house was purchased before 2018) or $750k?  Does it matter that both homes were refi (no cash out) in 2020? 

 

Turbotax is limiting my deduction this year but didnt last year...