Hi experts,
I have special situation that need your help on calculating mortgage interest deductions.
My understanding is that:
But Turbotax tells me to only deduct $7,476 interest, which calculates as: ($15,474 +$11,826) * 750,000 / (1,077,471 +1,661,471).
I think Turbotax assumes both of my primary home interest are for whole year, but it's not, home 1 is for 1/1-7/31, and home 2 is for 10/20-12/31, they are not over-lapping, so I think Turbotax's calculation is incorrect.
Is my understanding correct? If so, how should I fix it?
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Please clarify which version of TurboTax you are using - Online or Desktop - Premier, Premium, Home and Business?
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