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Cannot adjust mortgage interest as secondary owner in TT desktop
Hi,
I am trying to claim mortgage interest deduction for my portion of interest payment, but TT desktop premier does not allow me to adjust the interest payment. (The mortgage balance is 1.2M exceeding 750k so I am trying to claim only half of it around 600K) I am a co-owner of a mortgage and underlying house. My SSN is not on 1098 (my name is the second one on 1098). After entering the primary name on 1098 and entered principle amount, TT filled interest deduction using 750K balance. I only want to use the interest deduction less than what TT filled but I am not able to adjust the interest. What should I do? (I tried to override in form but TT won't allow me to file electronically if I override)
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March 30, 2025
6:10 PM