hcklau
Level 1
03-04-2024
05:45 PM
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Taxpayer has a mortgage and a HELOC. Mortgage debt is $325,000 and HELOC is $288,000. Total debt is less than the $750,000 limit for Fed, so all mortgage interest is deductible. CA, has a $100,000 limit debt on HELOC. I can not figure out how to input or make the adjustment on the CA mortgage interest deduction. Any suggestions?
Best Answer Click here