Solved: Calculating Average Mortgage balance for 2 loans

Calculating Average Mortgage balance for 2 loans

Yes, you can do the computation yourself. One way to do this is to determine the monthly loan balance. From the overlapping months add balances together , then only loan balance for the new home the remainder months. Now you can determine the average for the year. So divide the $750,000/$$$avg. This will be the allowable Home Mortgage interest deduction. @mm2023taxes

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