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Question

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

Forum|Forum|1 year ago
April 13, 2025
1 reply
0 views

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?

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.

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rfreedenbergAuthor

Correct. That is not the issue.