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Possible 1098 mortgage interest deduction error?
I just bought my first (and only) house in Feb. 2023, for under $300k, the 1098 says I paid $12,207 in interest. My owed taxes were about $14k before entering this part... After inputing all the data from the 1098, it only went down about $3k, to $11k, is that right? I was expecting much more of a reduction to the amount owed. Any help would be appreciated, thank you in advance.
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‎April 8, 2024
9:19 AM