I have a home loan of $768000 in 2018, I live in CA. Since loan is over $750,000, and CA law deducts up to $1,000,000, how do I factor that into my Turbotax State return?
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I have a home loan of $768000 in 2018, I live in CA. Since loan is over $750,000, and CA law deducts up to $1,000,000, how do I factor that into my Turbotax State return?
I have a home loan of $768000 in 2018, I live in CA. Since loan is over $750,000, and CA law deducts up to $1,000,000, how do I factor that into my Turbotax State return?
You need to enter the full amount of mortgage interest on your federal return and the $18,000 disallowed portion will flow over to the California return. You will not need to enter anything additional on the California state return.