TaxGuyBill
Level 15
02-27-2020
02:55 PM
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@cinmon428 wrote:There is an ORDER in which mortgage interest must be deducted with mixed mortgage. ... In other words, until you get rid of the home equity debt, you have a zero amount deduction on Schedule A. But the program does not do it that way.
No. There is an "order" to how the PRINCIPAL payments are applied. The deductible interest is correctly based on the percentage of the average principal amounts.
