By using the worksheets in the IRS publication below, you may need some manual calculations to be sure you are able to deduct your maximum mortgage interest allowed. Your situation is somewhat complicated so this action is going to make it easier to complete your tax return. Keep all of your calculations and notes with your tax return so that you can provide the documentation you need should the IRS send any question.
Once the worksheets are completed you can enter the correct deductible mortgage interest in one 1098. Keep all the information with your tax return.
- Search (upper right) > type 1098 > Click the Jump to... link > Delete one of the forms and Edit the most recent mortgage interest entry.
@dubbytaxes
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