I cannot get TT to recognize my manual adjustment to Federal interest deduction to account for limitation. I have tried to delete and enter. No luck
I had have two new mortgages in 2024 that combined exceed $750K. I need to manually override the TT mortgage interest to reflect the reduction. I enter the number in "Your Adjustments*" but nothing happens. Anyone else have this happen?
021017
2 Replies
JohnB5677
Expert Alumni
Apr 13, 2025 10:13:50 AM
Do not do that. You must reconcile it in the Step by Step process.
The 1098 (s) that were paid off when you got he new loan should show zero as a mortgage balance.
That will certainly reduce the amount you owe and may noy trigger the limitation.