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Deductions & credits
Thanks for post! I have been looking for solution to my problem and your post put me in the right direction. Your example is very close to my case, except that my outstanding loans are not close to those numbers. I have a Primary loan with balance of 232K and a second home loan with a balance of 138K. Both of these loans were taken after 2017. When I enter the 1098 information for these loans, Turbo Tax computes the total interest correctly but what it puts in line 8a after the analysis is only the interest that I paid for the secondary home loan! When I tried to compute the number that should be in 8a line, I come with a value that it is even higher than the sum of the 2 interest in the 2 1098. This seems to indicate to me that the equation as stated does not apply to my case (?) HELP