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I am married filing separately, and I understand my mortgage interest deduction is supposed to be limited.
I have three 2023 1098s for mortgages.
I cannot figure out where this $14,457 is coming from. On the "Deductible Home Mortgage Interest Worksheet" there is an entirely different number on line 22 which also states to use on Schedule A Line 8A.
This worksheet implies $27,076 should be used on Schedule A.
When I return to Schedule A, after this, I see the $14,457
Any help on this would be greatly appreciated. If more info is needed please ask.
Thanks.
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There is a statement for the amount listed on 8a. Have you looked at that statement? You indicated you are Married Filing Separately. I am guessing it might be because you have shared interest and are only able to deduct your share of the interest.
Yes. I input everything correctly.
I found a thread earlier today from a couple of years ago that looks like it might have been a similar problem. Implication is TT cannot handle partial year mortgages correctly at least when mortgage interest needs to be capped. It seems I have to do everything manually, or it carries over the incorrect number.
https://ttlc.intuit.com/community/tax-credits-deductions/discussion/mortgage-interest-deduction-comp...
I'm going to try the above approach later, and see if it works without forcing me to do overrides in TT after the fact. I hope this is the correct resolution.
Thanks.
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