Hello, I also got the same IRS Notice CP28, saying there was an error on my 2024 Home Mortgage Interest Deduction calculation in Schedule A. I have initiated an amendment in TT Desktop but unable to arrive at the correct calculation.
The $750K limit applies to me as well as 59% personal use and 41% room rental
I tried both calculation methods from Pub 936 and think the ´Interest paid / Interest rate method’ is the better option to use.
Method 1 = 51,872.05
Method 2 = 54,388.45
Unfortunately, I am unable to get the TT calculation to match. I am not sure what to put in Schedule A - Home Mortgage Interest Worksheet Box 1 and the box that asks for the 1098 interest adjustment amount. Also should I enter the actual mortgage interest reported on Form 1098 or the manually calculated amount?
Any suggestions would be greatly appreciated!!
My token number is13563578315934309-30119116
