Hello,
I am in process of completing my 2019 taxes and have a question on mortgage interest deduction. I have paid total interest of $21,677, however, only $3,421 is actually being applied towards my itemized deduction. I have attached a screenshot. Does anyone know why?
Thanks,
Hitesh
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Please click on the link Why the Difference? to get an explanation.
I did, but the explanation does not apply to me.
If you mortgage interest is not being limited due to having a mortgage that exceeds the limits of $1,000,000 if taken out before December 2017 or $750,000 if the home was purchased after that date, your best option is to have a live agent look at what it going on in your tax return.
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