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niuniek1986
February 22, 2023
Question

Will the itemized deduction of interests be updated in TT for loans in excess of $750,000 (partial deduction for principal below $750,000 vs. currently 0 deduction)?

  • February 22, 2023
  • 1 reply
  • 0 views
see IRS Publication 936 (2022), Home Mortgage Interest Deduction "You can deduct home mortgage interest on the first $750,000"

1 reply

DMarkM1
DMarkM1
February 23, 2023

If you clarify what your specific situation is with regards to your mortgage interest deduction someone may be able to respond with steps to get your correct deduction.  For example, maybe you have two loans (1098s) and for what amounts and what dates on the loans?  

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