sjrcpa
Level 15
03-21-2023
09:12 PM
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Yes and no. The first home has no limit on deductibility.
The second home does.
That's why people suggested inputting the first one directly on Sch A and using the worksheet/calculating limitations for the second one.
You don't have to use the worksheet if you can't get it right.
Just deduct the correct amount on Schedule A. Document the calculation in your workpapers.
The more I know the more I don’t know.