sfciver
New Member

Mortgage Interest Deduction for 2 homes

Hi,

I acquired a second home this year that became my primary residence for the last 4 months of the year,  but I've held my previous residence for personal use.   My loan on my original home was acquired in 2019 and exceeded $750K.   My new purchase has a much smaller loan under the $750K cap but at a higher interest rate.  How do I approach calculating my deduction between the homes?      

Thank you!