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Why is my mortgage interest being limited?
My primary home was purchased in 2021 with a current loan balance of about 613k. My second home was purchased in 2010 with a current loan balance of about 262k. Both loans from the two separate properties combined is less than $1M. Why is my total 1098 interest deduction calculated and capped at $20,640 when I paid much more than that in interest combined?
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March 22, 2025
9:08 PM