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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...
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‎February 19, 2024
11:48 AM