Grateful2002
Level 3
03-29-2023
09:23 PM
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The MFJ taxpayer purchased a home 903k in 2022. He also has a second home 318k purchased in 2016. Originally, I thought that the 750k debt mortgage interest limitation is per home, but seem, this is per total per taxpayer, correct?
Seems, when I enter both loans in the deductible home mortgage interest worksheet, the system combines them both to 1.2M, then applies the limitation percentage. Does that sound right? Am I missing something?
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