Deductions & credits

@bbuchanan99 you can only deduct the interest on your primary home and ONE second home.  Does that solve your $750,000 limit issue?

 

and @VictoriaD75 answered your question that the limit is PER PROPERTY and not per taxpayer; the entire debt is part of the calculation to determine the $750,000 limit even though you may only be paying 1/2 the interest.