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Deductions & credits
The issue has been resolved. Please update your software and revisit the Mortgage Interest section.
Enter the original purchase date (7/2014) and continue. After answering yes to the question in the image below and entering the outstanding loan balance, you should see the deductible amount of mortgage interest.
Refinanced home acquisition debt.
Any secured debt you use to refinance home acquisition debt is treated as home acquisition debt. However, the new debt will qualify as home acquisition debt only up to the amount of the balance of the old mortgage principal just before the refinancing. Any additional debt not used to buy, build, or substantially improve a qualified home isn't home acquisition debt. irs.gov
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March 28, 2024
8:23 AM