I am trying to calculate the adjusted mortgage interest for a loans that are above 750k using turbotax premier. I have a mortgage for 771k originated 9/2018 and a HELOC originated 9/2018 for 145k both of which I used to purchase and fix my home. I consolidated these two to a larger loan for 921k on 11/2019. My total mortgage interest is added up to be 35k for 2019.
The instructions to calculate the adjusted mortgage interest for loans >750k are very vague (from both turbotax and IRS) and do not take into account a refinance during the same year. How would I go about doing this? Or do I have to seek professional help from a CPA? Thanks
