I have two mortgages interest deds, when I enter both (20k + 2k) the deduction seems to be halved (total ded = ~ 12.5k). When i enter just one ded (20k), total says 20k, Why?
The bigger deduction (20K) is from a 550k loan from 2017, the smaller deduction (2k) is from a 870k from 2020.
There is an issue with Mortgage Interest Limitation that may be affecting you.
Click this link to learn more about Home Mortgage Interest is Limited.
This link gives info on how to handle Multiple Mortgage Interest Statements.
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From what I've been instructed to do is to inform you of the following:
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I do hope this helps.