zomboo
Level 7
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In replying to "Since you first took out this loan, how much has been spent to buy, improve, or build the home it's secured by?", you need to include the origin...
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Since you refinanced in 2024, you will have two 1098's, one for the original mortgage and one for the refinancing mortgage. Box 2 should should the balance as o...
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Turbo Tax is adding the average balances together and applying the 750K limit: 750K / (408K + 720K) = 66.5% of your total interest is deductible. This is in acc...
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I just saw a post on the same issue you are having and the issue was resolved by deleting both 1098's and reentering them. Deleting and reentering only the 1098...
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Are you sure it is not because your deduction is limited? If the sum of the average balance on your first and second home is over $750K, the amount of deductibl...
Activity Feed for zomboo
- Posted Re: Mortgage Interest Deduction Question for Home Mortgage Refi on Deductions & credits. April 11, 2025 11:02 AM
- Posted Re: Home Mortgage Interest Deduction on Deductions & credits. April 9, 2025 2:03 PM
- Posted Re: Turbo Tax Question: Multiple 1098 with home sale & purchase same year. Mortgage Interest isn't working correctly on Deductions & credits. April 9, 2025 1:46 AM
- Posted Re: Home Mortgage interest not transferred from 1098 to Sch A on Deductions & credits. April 7, 2025 7:34 PM
- Posted Re: Home Mortgage interest not transferred from 1098 to Sch A on Deductions & credits. April 7, 2025 7:24 PM
- Posted Re: Home Mortgage Interest Deduction on Deductions & credits. April 7, 2025 7:13 PM
- Got Cheered for Re: Home Loan Interest - Large Lump Sum Payment made in January. April 7, 2025 6:10 AM
- Posted Re: Home Loan Interest - Large Lump Sum Payment made in January on Deductions & credits. April 5, 2025 3:00 AM
- Posted Re: 2024 Home Mortgage Interest Deduction worksheet with two mortgages, two homes on Deductions & credits. April 3, 2025 11:43 PM
- Got Cheered for Re: If I have a Heloc and I used to purchase a house, can I deduct the interest? If so, where in .... April 3, 2025 7:44 AM
- Posted Re: Mortgage Interest Deduction on Deductions & credits. April 2, 2025 5:29 PM
- Got Cheered for Re: How do I get through to Turbo Tax that the Mortgage Interest deduction is calculated wrong (s.... April 2, 2025 12:16 PM
- Got Cheered for Re: TurboTax Incorrectly Applying Qualified Loan Limit and Reducing Deductible Mortgage Interest .... April 2, 2025 6:31 AM
- Posted Re: TurboTax Incorrectly Applying Qualified Loan Limit and Reducing Deductible Mortgage Interest ... on Deductions & credits. April 2, 2025 12:15 AM
- Posted Re: Average mortgage outstanding? on Deductions & credits. April 1, 2025 11:04 PM
- Posted Re: Construction to Permanent Loan over a calendar year end question on Deductions & credits. April 1, 2025 8:11 PM
- Got Cheered for Re: Construction to Permanent Loan over a calendar year end question. April 1, 2025 5:56 PM
- Posted Re: Construction to Permanent Loan over a calendar year end question on Deductions & credits. March 31, 2025 11:47 PM
- Posted Re: I have 2 home. Primary house principal -765k , Int- 21K. House2 secondary -princ- 1.24M , interest- 6K. When I add 2nd house my house1 credit is removed. How to handle ? on Deductions & credits. March 31, 2025 6:13 PM
- Posted Re: I have 2 home. Primary house principal -765k , Int- 21K. House2 secondary -princ- 1.24M , interest- 6K. When I add 2nd house my house1 credit is removed. How to handle ? on Deductions & credits. March 31, 2025 3:58 PM