I am single.
I purchased a home in 2024.
It is my primary residence.
I purchased the home with my mother. We are equal owners.
The loan balance is 534,011.00.
We paid19,719.22 interest in 2024.
I have a second home which I purchased in 2013.
It is not my primary home.
I am the sole owner of this home.
The loan balence is 308,942.69.
I paid 9,494.38 interest in 2024.
So, the total interest paid in 2024 was 29213.
But Turbo Tas calculted the deduction as 3,214.
In 2023 I was able to deduct all the 9,840 iterest on the morgage on my second home.
Why is my deduction only 3,214 in 2024?
