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UFNavy06
New Member

Sold and Purchased New Primary Home and Mortgage Sold

I sold my primary residence as I was relocating for my career mid 2024.  I received a 1098 for that house from the mortgage servicing company.  

 

I closed on my new residence on October 20th and on October 30th, it was sold to a new servicing company, which happened to be the same company I had for my previous mortgage.  I received two 1098s for this mortgage, one from the original servicer and one from the current servicer.

TurboTax is telling me that my mortgage interest deduction may be limited.  

 

I combined the two 1098 for my current residence to simplify that portion.  However, I think it's trying to include the now closed mortgage (zero balance) from my previous residence to bring me over the $750,000 limit.  Neither mortgage is above that limit on its own.  How can I rectify this?  Should I be adding the mortgages together and dividing by .5?  That would still be well below the $750,000 threshold.

 

 

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