@Rick19744 Niw I see what you are saying. in the first year the interest allocated for the primary home is
(total interest charged by the bank in the full year * 750 )/1000. Assuming that total principal that got paid in the first year year is is 30K, - the said amount in the second year would be (total interest charged by the bank in the full year * 720 )/1000 ... and so on.
Did I get that right?
I too would calculate it this way. But honestly, there is some principal getting paid every month. I don't know whether IRS expects you to calculate this every month.
